Planning for Problems Before They ArisePeople should do all they can to make plans before they are unable to do so independently. Do you know who will make important decision for you and your children after you are gone or incapacitated? You should be able to appoint someone you trust to protect you interests in the event that you cannot. When a person fails to identify a guardian for children, create an advanced health plan, or appoint a healthcare agent, the difficult decision of who decides is often left up to the courts. The positions established to fill these roles when a person fails to make these provisions for are called guardianships or conservatorships. The first step in deciding these important decisions is to know what questions to ask. At Ingraham & Pautienus, located in Nashville, Tennessee, our attorneys will help you make these decisions as part of a comprehensive estate plan . For guidance on these important issues, contact us for a free initial consultation. GuardianshipsA guardian is someone who has legal authority over a person, under the age of 18, whose parents cannot provide the proper care. This is necessary when a parent dies, becomes incapacitated, or is unable to care for a child. The court may appoint a guardian ad litem to serve as a representative for a child who inherited, or received a substantial amount of money through a verdict or settlement. The guardian will work with the court to identify a fiduciary to hold the money in trust for the child until the child reaches the age of 18 years old. ConservatorshipsThe court will appoint a conservator for the person or for the property of a person who is unable to make decisions independently because of a mental disorder like Alzheimer's disease. The court will grant a person with power to make decisions about a person's healthcare choices, finances, or a combination of the two. You may avoid disputes about conservatorships between your family members by nominating a conservator in your will and estate plan. Durable Powers of AttorneyIn most situations, when you appoint a durable power of attorney, you may be able to avoid the need for a conservator or guardian. A durable power of attorney has the authority to act in your behalf. It is durable because it remains in effect, even after you become incapacitated. Your attorney-in-fact can use your assets to pay for your everyday living expenses, collect government benefits, pay mortgages, invest your assets, buy and sell insurance policies, file your taxes, and represent you in legal proceedings. To speak to a lawyer about planning for your future, contact us at Ingraham & Pautienus for a free initial consultation. We counsel people throughout Middle Tennessee, including people in Brentwood, Franklin, and Clarksville. |
