Do I Need A Guardianship Or Power Of Attorney?
Both guardianships and powers of attorney can protect the interests of an individual who is incapacitated. However, they are not the same. There are unique benefits to each one.
At Korshak & Associates, P.A., we help people establish both guardianships and powers of attorney. We can help you determine which option is best in your situation.
To set up a free 10-minute consultation, please complete our online contact form.
What Is The Difference Between A Guardianship And A Power Of Attorney?
- Powers of attorney: A power of attorney can be designated to handle the financial, legal and medical affairs of an individual who has become incapacitated. A power of attorney may perform tasks such as paying bills, making medical decisions and accessing bank accounts. An individual can decide in advance if he or she wants to designate a power of attorney in the event of incapacitation. A power of attorney continues until it is cancelled or until death. A power of attorney must be created before incapacitation or a person can otherwise no longer make decisions on their behalf. Creating a power of attorney may cost you up to a few hundred dollars while an emergency guardianship after the fact costs several thousand dollars depending on the complexity.
- Guardianships: A guardian is an individual who is court-appointed to manage the affairs of an individual who is incapacitated. A guardian may manage the financial, legal, medical and personal affairs of the incapacitated individual or child. The guardianship continues until the incapacitated individual becomes able to manage his or her own affairs, or until death.
There are benefits to both powers of attorney and guardianships. If you are wondering which option is best for you, we invite you to contact us.
Contact Us For Help With Guardianships And Powers Of Attorney
Please call us at 888-681-4389 to reach our office in Casselberry.
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