There may come a time when a loved one becomes mentally incompetent and you need to manage their legal, medical or financial affairs. In most cases, you will likely need to file a guardianship application with the Superior Court to obtain guardianship over that person. However, depending on the circumstances, there may be guardianship alternatives that are affordable and less burdensome than a guardianship proceeding.
The first guardianship alternative, and by far the most inexpensive, is a durable power-of-attorney. A durable power-of-attorney allows a person as attorney-in-fact to manage an incapacitated person’s affairs. The caveat is that a durable power-of-attorney needs to be executed while the person is competent. In addition, many financial institutions and medical providers no longer accept durable power-of-attorneys and require court orders.
The next guardianship alternative is conservatorship. A conservatorship proceeding is similar to a guardianship proceeding in that it is an action filed in the Superior Court to obtain a court order allowing you to manage a person’s affairs. Conservatorships are much cheaper than guardianships because they usually do not involve court-appointed attorneys or fiduciaries, however, the person in need of a conservator must voluntarily approve of the conservatorship.
In a guardianship proceeding, the judge may order a limited guardianship as an alternative to full guardianship. A limited guardianship provides that an incapacitated person is unable to manage their affairs in certain circumstances but able to manage their affairs in other ways. An example would be someone diagnosed with a developmental disability who does not understand their finances but can drive and work independently.
This list is not exhaustive as there are many alternatives to guardianship proceedings. While guardianships are necessary in most cases, there may be alternatives available to you. Zack Whelan is very knowledgeable and experienced in guardianships and estate planning. If you have a situation that presents an alternative to guardianship, then Zack will find the best alternative for you.
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