Guardianship is a means for someone to acquire legal custody or decision-making power over another individual, often a minor child. A guardianship can also be set up as a way to provide care and assistance for the elderly, or those who are no longer capable of handling their own care or making sound financial decisions. Guardianships are often established as part of financial planning and trust administration, and often plays a key role in wealth management.
It is very prudent to establish a guardianship for minor children in the unfortunate event that their parents pass away. With a guardianship in place, the care and upbringing of the child or children is granted to a predetermined individual. This trusted individual, their guardian, is then responsible for their well-being. They will have the power to authorize medical care, as well as apply for public benefits if needed. Additionally, the children's inheritance or any life insurance funds will be managed through the guardian.
Another reason for guardianship is when parents are deemed unfit to raise their children. In these types of cases, another party such as a grandparent may petition the court for guardianship. If granted, they become the child’s legal guardian and are fully responsible for the child without parental interference.
Guardianship for parents, grandparents, or other senior citizens can also be established in order to help protect their rights, finances, and physical care. It is an unfortunate reality that the elderly are often preyed upon by unscrupulous individuals attempting to take advantage their trusting disposition or unsuspecting mind. Setting up a guardianship allows the guardian to be in control of both the elder person's finances and medical decisions.
If you need assistance establishing a guardianship, consult with experienced attorneys at Wollman, Gehrke & Solomon, P.A. They will answer any questions, review your specific situation, and help determine the best course of action. With over 50 years of combined experience, our legal team fully understands the intricate details of estate planning and asset protection. More importantly, everyone at the firm takes pride in maintaining high quality service, while not losing sight of the personal care and attention each client deserves.
In recognition of hard work, superior legal ability, and professional ethics, our firm received an AV-rating from Martindale-Hubbell Law Directory. This accolade and many others reflect the high quality of service and dedication each attorney delivers to clients on a consistent and continual basis. So don’t leave the future up to chance. Let us help you make today’s plans, tomorrow's legacy.
CONTACT THE FIRM to learn more about guardianships and schedule a confidential initial consultation.