Durable Power of Attorney, Guardianship, or Conservatorship
Durable Power of Attorney
Giving a loved one the power to make decisions on your behalf is an important step in ensuring that you will receive the care you desire. A durable power of attorney is a legal document authorizing someone to act on another person’s behalf. Individuals will determine how much power the other person will have over their affairs. A power of attorney is considered "durable" when it remains valid even when an individual becomes incompetent or incapacitated.
Guardianship
If no power of attorney exists and you enter an coma or become unable to make decisions, a guardianship may be necessary. Usually, the guardian is an individual who is appointed by the court with the help of an attorney to make personal decisions for an incapacitated adult. Unlike a power of attorney, an appointed legal guardian is an agent of the court whose powers are limited and only granted as needed. Typically, legal guardians make decisions regarding the person’s health care and welfare.
Conservatorship
A conservator is an individual appointed by the court to make financial decisions for an incompetent or incapacitated adult. A conservator usually has the power to enter into contracts, pay bills, and carry out other financial functions. Similar to a guardianship, only the necessary powers will be granted to a conservator by the court.
Guardianship vs. Conservatorship
Beyond their distinct powers, there is another major difference between guardians and conservators. In an emergency, the court may appoint a guardian on behalf of an individual. However, the court may not appoint an emergency conservator. As a result, it remains imperative that that you establish a power of attorney, guardian or conservator early to avoid complicating already stressful situations.
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