Scenario: Margaret and Susan are home for your holidays visiting their elderly father. They realize that he is still managing to deal with himself that his vision starts to fail. His bank checking account is overdrawn and the husband has money missing from his family savings where he has paid you to make repairs on the house that were never completed. Further investigation reveals which he has not yet paid his utilities for a lot of months but thinks it is all current. After talking with considered one of his close friends, they have got a reason to trust he or she is no longer able to handle his financial affairs.
What would they do?
The father didn’t carry out a durable power attorney that will allow his daughters to adopt over his affairs. Their only recourse is to file a petition with the court and ask that the court determine that their father is no longer competent to address his financial affairs and order that particular or both of them be appointed guardian of their father’s property.
This would require:
– Hiring a legal professional to draft the petition and apply for guardianship with the court;
– Paying the appropriate filing fees;
– Notifying parties in interest;
– Appointing of the Guardian at Litem in many states to represent a person’s eye from the father;
– Medical evaluation with the father to discover his mental and physical condition; and
– A hearing ahead of the Court to rule for the question of guardianship.
Filing a guardianship petition with the Court is usually an expensive and time-consuming affair. The only way to avoid this when confronted with elderly parents would be to have executed a durable power of attorney before aging parents become incapacitated. Consult with a competent attorney when …Read More