While making estate plan document, one essential plan usually advised by estate attorney to their clients is the durable power of attorney. This document helps to plan ahead should in case of incapacity or any disability. A durable power of attorney allows someone to step in and make key decision for you when you cannot. There are major type of power of attorney; the medical power of attorney (advance medical directive) and financial power of attorney.
The medical power of attorney legally authorizes a person to make medical decisions for another individual. This document takes effect when the maker becomes disabled. A financial power of attorney allows another person manage the finances of a disabled individual. The person named in the document would be able to make financial decision, oversee estate and all properties belonging to the incapacitated.
These two documents are similar to the roles of a legal guardian assigned to any guardianship relationship. However, the probate court will still assign a guardian to a disabled with a medical durable power of attorney but needs someone to handle his finances.
Here are the types of guardianship relationships usually approved by the court:
Full guardianship
This form of guardianship relationship grants an appointed legal guardian full decision making power over the ward. The guardian takes over all healthcare, personal or financial decisions of the ward. Usually, this form of guardianship is allowed for a minor child or for an individual with extreme disabilities limiting his ability to handle any area of his life.
The guardian appointed in this case may choose to hire a financial advisor to handle the finances of the ward, or a medical consultant; however, the court needs to give authorization to any decisions made by the guardian.
Limited guardianship
This form of guardianship is different from full guardianship, as it only allows certain areas of the ward’s life be handled by a legal guardian. Peradventure, the ward has needs for someone to handle his financial or an individual to make only medical decision on his behalf, the court will see it fit to assign a guardian only to this area. In selected instances, the wards needs for a certain type of a guardianship might be ignored by the court, ass such you need a guardianship attorney to help defend your interest. The attorney will petition the court with the right documents to ensure that a prefer form of guardianship relationship is approved. This type of guardianship gives limited access to the appointed guardian.
Co-guardianships
Co-guardianship is approved by the surrogate court if the ward have need for two guardians, each to handle the same or separate areas. This form of guardianship relationship gives each legal guardians full decision making power over appointed areas of the ward’s life. Usually, a court will approve of this guardianship to check the excesses of each guardian.
Temporary or short term guardianship
This type of guardianship is appointed when:
The ward is a minor and just needs someone to handle his personal care till he come of age, when the ward is facing an emergency situation and just need a short term help of a legal guardian, the ward is going through a temporary health or financial problem.
The duration of this form of guardianship is usually stipulated by the court. Once the date is reached, the guardianships terminated. Unforeseen circumstances may occur requiring that the guardianship be elongated; however, the surrogate court holds all the jurisdiction to allow a temporary guardianship to be adjusted. A guardianship attorney will petition the court on a ward’s behalf for guardianship extension.
Bottom line.
A court presides over the appointment of a guardianship or conservatorship to a ward. Much more, in New York as in other states, the state laws dictates the financial threshold requiring the appointment of a conservator for a ward.
Typically, if the ward’s annual income is $35,000 and above, a conservator would be required.
Whatever the case involved in creating a guardianship in New York City; you need to seek the help of a guardianship attorney near you.
Contact a guardianship attorney near you 10001 in New York City.
Guardianship attorney are always vital to obtaining the best kind of guardianship. Our attorneys knows how delicate it could be handling someone else affairs and as such handle guardianship with sensitivity and experience. In a nutshell, our attorney would defend your interest, whether you are a ward or an appointed legal guardian.
Contact an attorney closest to you today in New York City.