Managing finance and assets for incapacitated elder- An overview of Legal guardianship for an

Managing finance and assets for incapacitated elder- An overview of Legal guardianship for an

It is obvious that with aging, a person will have diminished mental and physical capacities. However, life would not stop, and the  fact is, it is during this phase of life that some of the most sensitive decisions regarding the well being, health and estate needs to be taken. To assist incapacitated elderly individuals to do the needful in the right manner, the code of law has a scope to appoint a legal guardian, who will be entrusted with all the power and responsibilities to deal with any matters related to the concerned senior person. Paragraphs underneath shall discuss some of the key aspects related to this topic.

What are the condition and process to get a  legal Guardianship for an incapacitated senior individual?

If  a legal guardianship for an incapacitated elderly individual is to be taken, the first step is to consult an advocate. The advocate will ask for collecting the relevant medical documents that will establish the incapacity of the senior lady or gentleman. This is likely to involve steps like examinations conducted by Psychiatrist, Psychologist, and a physician. After the necessary documents are collected, a petition, stating, the needs for such guardianship of the senior person will be filed at the court, followed by a hearing made about the plea. Now, it comes to the exclusive discretion of the court to decide, if the person is really in need of a legal guardian or not. Likewise, the court will also decide, if it  will grant a partial or complete guardianship to one or a few individuals with respective areas of responsibilities and authority. Usually, once granted, the guardianship will last till the demise of the concerned senior person.

What are the rights and authorities enjoyed by the legal guardian?

Following are some of the rights and authorities that a legal guardian to an incapacitated elder enjoys:

  • Determine as well as monitor the residence of the elderly person
  • The Guardian will have the right to give consent to any health related issues on behalf of the person, as well as monitor the course of action.
  • The guardian gets authorized to decide about the release of confidential and private information and documents about the incapacitated elder.
  • Supervise, handle, protect, as well as deal with all the assets and properties held by the senior person.
  • Receive any income from the estate.
  • Take all the end-of-life decisions on behalf of the elderly person, appointing the legal guardian.