Guardianship is the traditional legal process used to appoint a guardian over someone a court determines is unable to handle their personal or financial affairs. Most people making their estate plan wish to put in place protections to avoid this process should they become incapacitated, given the lack of control and expense it can entail. The main way to do so is to create a living trust, which has several advantages over guardianships. An experienced Yorkville, IL estate planning attorney can help you set up a living trust.
What Is a Guardianship?
Guardianship is a legal mechanism to protect the financial and personal affairs of a person who is deemed by a court to be unable to make basic decisions or manage their finances. A guardian is legally assigned to make decisions about the incapacitated adult’s health care, finances, living arrangements, and more. Often, guardianships are created to care for people with Alzheimer’s, mental illnesses, or developmental disabilities.