A recent article in the Huffington Post discussed the difficulties with having a court appointed guardian.  The article highlighted the many abuses of a guardianship along with the high cost for filing a petition for guardianship and the fees for maintaining the guardianship.  What can you do today to keep from falling within this trap?

If you are a loved one is concerned about aging and mental health, including being diagnosed with Alzheimers and possibly dementia, do the following before it is too late:

How to protect yourself and your loved ones. 

• Execute a comprehensive power of attorney that includes the ability of the person you choose to both manage your money if you become incapacitated and assume the role of your guardian if necessary. 

• Execute a comprehensive health care power of attorney that allows your chosen representative to make all health care decisions if you are incapacitated.

•  Review these documents often in regard to the age of your representative and any changes that may have occurred in that person’s life, such as a bankruptcy, illegal activity, divorce, lawsuits, fiscal irresponsibility or changes in your relationship.

• Submit these documents to the appropriate parties before it becomes necessary. Ask banks and other financial institutions to examine the power of attorney and authorize it while you are still healthy. Ask doctors and local hospitals if the medical directives and health care power of attorney are acceptable.  

• And then do it all over again. It’s important to re-execute powers of attorney every few years. Despite Missouri law, many financial institutions claim that a power of attorney becomes stale after some arbitrary period of time. Having newer documents that reflect the same wishes as those contained in older documents is wise.

• Keep originals in fireproof cabinets and PDF copies electronically. 

• Call David Schmidt at the Woodlawn Law Center today, 636-240-6667, to schedule an appointment and get your estate documents in order now, before it is too late.