Alternatives to Guardianship Lawyer in Iowa
Guardianship is an effective estate planning tool, but it may not be the right solution for you and your family. An alternative to guardianship lawyer from Huizenga Law Firm, P.C. can help you explore other legal tools to keep your loved one’s interests as the top priority.
Why Consider Alternatives to Guardianship?
Establishing legal guardianship over an elderly loved one allows you to make decisions on your family member’s behalf when they can no longer make sound decisions.
While there is nothing inherently wrong with guardianship, some people knowingly or unknowingly abuse this relationship by making decisions that do not reflect their family member’s wishes. Additionally, guardianship may be too restrictive for adults who want to maintain their freedom while receiving assistance with certain aspects of their daily lives.
An experienced alternatives to guardianship lawyer can help you understand the ins and outs of guardianship and determine whether it is the right estate planning tool for your family.
Alternatives to Guardianship
Numerous estate planning tools give you legal control over your loved one’s affairs. Consider the following alternatives to guardianship:
If your loved one can still make sound decisions, they could set up a revocable trust that names you as a successor trustee if they become incapacitated, allowing you to control the assets in the trust.
You and your loved one could consider establishing joint ownership over a financial asset, such as real estate, an investment account, or a savings account. With joint ownership, you would both have equal control over the asset.
Durable Power of Attorney
With a durable power of attorney, you could only act within the scope of the actions outlined in the POA document. You would create this document while your loved one could still make sound decisions, giving them more control over the responsibilities you gain if they become incapacitated.
Durable Healthcare Power of Attorney
A durable healthcare power of attorney is a form of POA that permits you to make medical decisions for another person. For instance, if your loved one went on life support, you would have the power to make decisions about continuing treatment.
Assisted Decision-Making Agreement
An assisted decision-making agreement allows you to monitor your loved one’s financial transactions without controlling them. For instance, if any fraudulent activity occurs or your loved one attempts a large withdrawal, the bank could notify you before it completes the transaction.
Contact a Reputable Alternatives to Guardianship Lawyer in Iowa
If you need help identifying the right alternative to guardianship, the attorneys at Huizenga Law Firm, P.C., can help. Call 712-737-3885 today for a consultation on these relationships and the proper legal process to create them.