How can an estate plan prevent a conservatorship proceeding? An estate plan uses several tools that can prevent the court from gaining jurisdiction over your affairs.
• A Living Will or Directive to Physicians is used to determine if artificial life support systems are to be used or withheld. • A Durable Power of Attorney for Health Care is used to provide authority to a person, in whom you have the utmost trust and confidence, to make decisions regarding health care treatment when you are unable to provide informed consent. • A Durable Power of Attorney for Property enables you to authorize a person to act in your place and stead in the event of your incapacity; this attorney-in-fact can manage your financial affairs without the need to have intervention by the courts. • A Trust or Family Limited Partnership is used to hold property; the Trustees or Partners manage the property held by either of these entities. • Both the Trust and the Family Limited Partnership continue to manage the property even if you are incapacitated. Thus, a properly prepared estate plan can enable you to avoid a Conservatorship proceeding over your estate.
Related Questions
- How can an estate plan prevent a conservatorship proceeding? An estate plan uses several tools that can prevent the court from gaining jurisdiction over your affairs.
- Can foreign estate proceeding be opened when the Court in the other jurisdiction has not appointed a personal representative?
- How can an estate plan avoid a conservatorship proceeding?
