Jan 12, 2016
By elder law and estate planning attorney Rick Law. Based in Aurora, Illinois the elder law and estate planning offices at Law Elder Law provide wills, trusts, traditional and senior estate planning, probate, guardianship, and much more to the Chicagoland senior and boomer community.
Individuals with dementia may need a guardian to serve their unique and special needs.
A guardian of the person, the estate, or both may be established for adults who are unable to care for their person or estate.
A guardianship is established for people who are so incapacitated that they are unable to provide properly for their personal needs or to “manage [their] own financial resources or resist fraud or undue influence.”
The guardian, conservator, or limited conservator, typically has the management and control of the estate and, in managing and controlling the estate, must use ordinary care and diligence. What constitutes use of ordinary care and diligence is determined by all the circumstances of the particular estate.
The guardian or conservator is authorized to exercise a power to the extent that ordinary care and diligence requires that the power be exercised.
Generally, the guardian or conservator must apply the income from the estate, as necessary, to the comfortable and suitable support, maintenance, and education of the ward. All guardians of the estate have general powers specified in your state’s Probate Code and may have additional powers as the court may designate. These additional powers must be specifically set forth in writing.
A temporary guardianship may be established by the court. The court may appoint a temporary conservator on the basis of the comprehensive report of the officer providing guardianship investigation, or on the basis of an affidavit of the professional person who recommended guardianship stating the reasons for the recommendation.
Too many families needlessly lose everything they have. Don’t let that be you. If you need help paying the overwhelming cost of long term care, give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now, because when you’re out of money, you’re out of options!
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!
My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!
Tom G., Naperville, IL