What is the Difference between Guardianship and a Power of Attorney?

Power of Attorney vs Guardianship for seniorsBoth a power of attorney and guardianship are tools to assist someone who is unable to make financial or medical decisions for him or herself by appointing an agent or guardian to act in their stead. However, these tools differ in their responsibilities and the freedom and control they give to the elder or person with special needs.

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Do You Have A Plan For Your Future?

iStock_000011860918SmallDespite concerns about finances and health, most people look forward to retirement. The idea is that people will have more time for personal interests since they no longer have to work or care for small children.

Of course, things aren’t always ideal.  A serious illness, dementia, or even death can mean that retirement won’t be so golden.  While many health issues can’t be prevented, they can be planned for, especially since a stroke, complications from diabetes or osteoporosis can lead to long-term care situations, such as assisted living or nursing home placement.

How do you plan for a future that may include chronic health issues when you aren’t sure what the future may hold for you?  These things can help:

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Health Care Power of Attorney: Advice for Health Care Decision Makers

 

A health care power of attorney is an essential part of your estate plan.

A health care power of attorney is an essential part of your estate plan.

As the agent of a Health Care Power of Attorney, you are given the authority to make health care decisions for the grantor when he or she is unable to do so. The authority to make health care decisions on behalf of a loved one can be mentally and emotionally difficult. A health care agent may be required to make critical health care decisions including choosing medical treatments and end-of-life wishes and care. To help individuals serve as the agent for a Health Care Power of Attorney, we have outlined some helpful tips below.

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How You Benefit from Powers of Attorney

A health care power of attorney is an essential part of your estate plan.

A health care power of attorney is an essential part of your estate plan.

When planning for the future of an elderly family member or child with special needs, you should consider preparing a powers of attorney. Powers of attorney are a simple and inexpensive way to help manage financial and medical accounts if you or your loved one is no longer able to make decisions clearly.  For reasons of simplicity and clarity, it is usually better to have separate financial and medical powers of attorney.

Powers of attorney eliminates the worry and stress of managing financial and medical accounts during a time of incapacitation. Powers of attorney are prepared by your attorney and give control over financial and medical accounts to an agent, who is normally a family member or trusted friend. The agent is then granted legal authority to manage the principal’s accounts, usually while he or she is unable to.

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