When someone becomes disabled and is no longer able to make decisions for themselves, they may need a loved one to handle their affairs. Another adult may need to be in charge of a disabled adult and make decisions that the person is unable to make on their own. A person may become disabled due to an accident or a health issue. Sometimes dementia or Alzheimer’s disease causes someone to no longer be able to handle their own financial or health decisions. There are two main options that allow someone else to be put in charge of your finances. These include power of attorney and guardianship.
What is the Power of Attorney?
Power of attorney (POA) gives someone else the legal authority to handle your financial matters and health-related decisions. A disabled adult may no longer be able to make these types of decisions on their own. Therefore, the person may allow power of attorney for a trusted relative or loved one. A person with power of attorney is allowed to take care of all matters on behalf of the disabled person. A power of attorney may be temporary or permanent.
Drawback to Power of Attorney
While power of attorney is an easy option for providing control over finances, there is a drawback. Power of attorney must be put in place or signed when an adult is of sound mind. It is important to note that when you give someone power of attorney, they have the responsibility to make decisions that often involve health care and finances. In some cases, the disabling event occurs before someone puts power of attorney in place. In these instances, guardianship may be the only alternative.
What is Guardianship?
A legal guardian is a person who has legal authority to make decisions for another person. The person who has guardianship is called a guardian, and the person over whom they have legal authority is called the ward. Guardianship is also called conservatorship. A court must appoint a legal guardian. Legal guardians are often required for adults who are disabled or are unable to make decisions on their own behalf. The court may tailor guardianship to the specific needs of the individual.
Disadvantages of Guardianship
The main disadvantage of gaining guardianship is that you must go through the court system to become a guardian. This can take some time, and you must meet some requirements. In Wisconsin, you must file a petition with the court. You must provide information that proves the individual has an impairment or disability that renders them incompetent. A medical doctor or psychologist must examine the individual and provide a report detailing or proving incompetence.
There are many situations in which it may be necessary to take over the legal needs of an individual. It is helpful to put a power of attorney in place before it is needed. If that has not happened, you may need to seek guardianship over a loved one. An experienced attorney will help guide the process to make it as easy and stress-free as possible. To learn more about guardianships, contact us at Moen Sheehan Meyer, Ltd. at (608) 784-8310 or online to schedule a consultation.