Financial Planning
Guardianship paperwork . You will need to confirm the type of documentation you will need to provide the court in order for Guardianship to be granted .
Your child will receive their own court-appointed representative called a Guardian Ad Litem , designed to ensure that the Guardianship is needed . This is not a confrontational relationship , but purely informational to ensure the court is doing the right thing for your child , and for you , in granting Guardianship .
You will also have a hearing where a judge will make the final determination of Guardianship . In some areas of the country , this can be informal , in other areas it will be more of a formal court proceeding .
If you are considering a more limited Guardianship situation , and you want to carve out certain rights and privileges for your child to keep , such as having a driver ’ s license , it is probably best to hire an experienced Guardianship attorney so that all the details are completed properly .
The answer to this question depends on the definition of “ alternatives .” Guardianship is a legal proceeding that gives one person ’ s legally binding decision-making authority to another person . There is no alternative to that from the court ’ s perspective . However , there may be other options that may fit your family .
If you are unsure about Guardianship , you will want to consider Power of Attorneys ( Durable and Healthcare ). These documents allow your child to choose who he or she would like to make decisions for him / her , but only in cases where he / she lacks capacity . If your adult child signs a power of attorney , the lawyer that has him / her sign those documents is attesting that your child has capacity at the moment of signing such documents .
That means your adult child understands the documents , can explain what he / she does , and he / she understands the impact of such decisions with regards to healthcare and money choices .
The power of attorney will come into play only when your adult child no longer illustrates the ability to have capacity , which is more than likely when they are in an emergency situation such as an accident that renders them unconscious or even comatose . Powers of Attorney are not a replacement for Guardianship and do not give you the same legal rights to be the final decision maker for your child .
Supported decision-making is becoming more popular , or at least is becoming part of the conversation . It may be helpful for adults with special needs to make decisions including medical , housing options , and day-to-day life choices . The adult with a disability creates a pseudo-Board of Directors comprising trusted friends , family , and professionals to help him / her make decisions .
There are a handful of states that offer formalized , supported decision-making agreements that provide guidelines of the decision-making process and the roles of each team member . This type of arrangement does not offer the same kind of legal protection for the adult with a disability as Guardianship does , but it is certainly something to consider if it fits for your family and your loved one .
Ryan F . Platt , MBA , ChFC , ChSNC is a registered representative that offers securities , investment advisory , and financial planning through MML Investors Services , LLC , member of SIPC . A Special Needs Plan is not a subsidiary or affiliate of MML Investors Services , LLC , or its affiliated companies . This article is not a recommendation or an endorsement of any products . He is the founder of
A Special Needs Plan . For more information on how to prepare for the future , be sure to contact a financial advisor who specializes in serving families with special needs . A Special Needs Plan is driven by their purpose of leading families to independence through an ongoing multi-generational plan . A Special Needs Plan is passionate about families confidently moving forward . 101 N . McDowell Street , Suite 120 Charlotte , NC 28204 704-326- 7910
Parenting Magazine | Issue 125 | 93