When it comes to protecting you and your loved ones, it’s important to understand the differences of power of attorney vs. guardianship. Each one represents a specific course of action that helps someone act in your place if you cannot make decisions for yourself because of age, disability, incapacity, or other life-altering circumstances.
While these two terms are similar in meaning, it’s important for you to understand the many differences between power of attorney vs. guardianship. Keep reading to learn more.
Power of Attorney
A power of attorney is a legal document that allows a person of your choosing to act on your behalf if you cannot make your own choices.
A durable power of attorney can make financial or medical decisions. When you pre-plan with an advisor, you can choose who your power of attorney will be if you ever need one and what that person can access.
Benefits of Power of Attorney
A power of attorney can be beneficial for many reasons, including:
- Control: A power of attorney allows you to choose someone who understands your values and best interests, which gives you peace of mind if they are ever in control of your assets.
- Personalization: You can alter the document to fit your unique needs, whether it’s a broad or limited range of decision-making on your behalf.
- Save money: Appointing a power of attorney can potentially minimize legal costs and processes that could come up.
- Privacy: The management of your affairs will be confidential in the eyes of the law, whereas guardianship can be public information.
Guardianship
The main difference between power of attorney vs. guardianship is that a guardian is a court-appointed person, and a power of attorney is a person of your choosing.
A guardian can make financial, medical, or legal decisions for a minor or adult who cannot make decisions for themselves.
The Role of a Guardian
A guardian typically represents a person who is in need. For example, a mentally disabled person that needs extra help caring for themselves. The specific powers of a guardian may depend on the jurisdiction.
Typically, a guardian can make decisions about:
- Personal or medical care
- Education
- Finances
- Living arrangements
- Other important matters
A guardian may be considered an option when a power of attorney or other alternatives are unavailable. It may be in a person’s best interest to explore a power of attorney before there is a need for guardianship. Speaking to an attorney can help you make the best decision for you and your family.
Find Help with Power of Attorney Vs. Guardianship
If you need additional help understanding power of attorney vs. guardianship, consult a legal firm with proven experience. With the right lawyer on your side, you can create the best plan of action and ask any important questions you may have.
You might not anticipate needing assistance in the future, but it never hurts to plan. When you have documents prepared and a legal team in place, you can ensure your wishes will be respected if the unexpected happens. Working with a reputable and knowledgeable attorney can help make it a smooth process.
At Auld Brothers Law, we are committed to providing protection for our clients. If you are curious to know more or ready to begin planning, contact us for a free consultation.