The Wall Street Journal recently published some really good tips for avoiding or preventing conflict in adult guardianship proceedings. This came out in their Personal Journal section on August 17, 2006, for those of you who have online subscriptions to view the article on site.
Adult guardianship proceedings are called conservatorships in legal terminology.
Some of the WSJ tips, paraphrased below, include:
- Create a financial Durable Power of Attorney document to name a trusted loved one to manage your financial affairs if you are unable to make them.
- Create an Advance Health Care Directive designating an agent to make medical decisions for you and document your medical wishes in the same document or a living will.
- Create a Living Trust and transfer your assets into it and designate a trustee to manage trust property if you become incapacitated.
- Talk about your wishes with your agents and trustees as well as other family members.