Thursday, September 3, 2015

Thankful With Lesson Learned

With the court’s approval, Meg has gladly handed over management of her father’s money back to her father, Wes.  She had been appointed by the court and acted as Wes’s guardian for the three years it took for him to recover his mental faculties after his mountain climbing accident.

With the court ruling that Wes is competent again, both Wes and Meg are thankful that the guardianship proceeding is over and particularly that it is no longer necessary.  It also means that Wes can do something now (besides being a safer mountain climber) to prevent or reduce any future guardianship costs. 

One key way for Wes to do this would be to execute Powers of Attorney – one for finances and one for medical decision-making. 

The Power of Attorney for Property would control financial decisions.  In it, Wes names who should take care of his finances if he is unavailable or cannot do so himself.  Then, if the need arose, the person taking care of his finances will not have to be appointed guardian and have their actions supervised by the court.

Planning ahead is an opportunity Wes now has again.  He has decided that since he now knows how fragile life is, he won’t take that opportunity for granted this time. 

For advice on planning that will protect what you have and your loved ones, please call our office at (815) 436-1996 for an appointment. 

© 2015 Gruber Law Office

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