Trust & Estate Administration
Think you are being respectful by appointing your family to serve as executor, trustee, or power of attorney? Think again. During life's most difficult moments, emotions often prevent obedience to your documented wishes. The worst of sibling rivalry may ensue when money is involved. You took the time to provide for your family so why not protect their love for each other and allow a licensed professional to serve? We will get to know your situation and understand its dynamics. We will not give up on you or "dump" the account. We are assigned to trust, uphold integrity, and promote longevity, no matter what the size or challenge.
Powers of Attorney
Two major types of powers should be considered: Financial and Health Care (Living Will). A financial power of attorney attends to all aspects of money, trusts, wills, investments, legal proceedings, income, taxes, gifts, and property to name a few. A living Will or Advanced Health Care Directive (AHCD) provides all aspects of how a principal expects life to be maintained or discontinued.
These powers are typically classified as general, durable, springing, or limited. A power is said to be durable when the agent continues to act on behalf of the principal when said is deemed unable to make decisions regarding health care or finances. A power may be springing at a specified future time or subsequent incapacity of the principal. A limited power is typically used for real estate transactions where the principal cannot be present and such has an expiration date set forth in the power. However, all powers expire when the signer does as well.
The term conservatorship is synonymous with elderly guardian but used mostly in the western United States. It is a court-appointed process that can be very expensive as the petitioners and proposed conservatee all must be represented by attorneys, with just a few exceptions for in pro per family members without objections. The reason for the expense is that the proposed conservatee's estate is expected to bear the burden of the court costs in the procedures to appoint.
However, there are numerous reasons to consider a conservatorship over a power of attorney (POA). For example, suppose there is no power of attorney in place and the person lacks capacity to understand what signing said document does to their personal freedoms and liberties. Perhaps there is feuding within the family about how a person should continue living, be it with Alzheimer's or a brain trauma injury and the feuding has left mom or dad with a means to care for them.