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Guardianship is a legal proceeding designed to protect vulnerable elder individual or person with diminished capacity from abuse, neglect, and exploitation. Guardianship provides for the individual’s personal care and management of their money.
With guardianship, certain rights and privileges are removed from a person deemed by the Courts to be incapacitated person. The process varies from state to state. State guardianship statutes defines what is meant by “Incapacity”
The Guardianship process is long and costly. Some states allow Medicaid planning but most state limit the effectiveness of such planning. It is always best to be proactive and plan for the possibility of incapacity.
A well thought out and duly executed Power of Attorney and Living Wills and Health Care Proxies can serve as a Guardianship substitute and avoid the costly and time-consuming proceeding. Of course Guardianship is always available should the need arise that Court intervention is desirable.
At Danna & Associates, we anticipate the worst but plan for the best. We want to make sure that you and your loved ones are taken care of by planning for events that are possible in your family situation.