If you care for an elderly family member, part of your responsibility is to protect them from financial elder abuse.  Financial elder abuse occurs where an abuser takes an elder’s money or property for their own benefit.  Abusers use different tactics to gain access to an elder’s finances.  Some may use intimidation or threats of abandonment.  Others may try to befriend the elder in order to gain their trust.

You can protect your elderly family member from potential abusers by taking some preventative steps.  Keep your family member’s blank checks, bank statements, and credit cards in a secure location where they cannot be easily accessed by people who enter the elder’s home.  Shred pre-approved credit offers and other financial documents before throwing them in the trash.  If you assist your family member with banking, look for unusual account activity such as ATM withdrawals at times when your family member was at home.

What if these steps are not enough to protect your elderly family member?  When an adult is unable to care for themselves or manage their own finances, the court may appoint a person to take responsibility for protecting the interests of a dependent adult.  This is called a court-ordered conservatorship.  The conservator is given legal authorization by the court to make decisions for the protected person.

A conservatorship of the person gives the conservator the authority to make basic personal and healthcare decisions for the protected person.  A conservatorship of the estate gives the conservator the authority to manage the protected person’s assets and make financial decisions for the benefit of the protected person.  The court may order these two types of conservatorships at the same time. 

If your elderly family member is not able to make decisions about their own health and/or finances that are in their best interests, speak with a San Diego conservatorship attorney at San Diego Law Firm. We have years of experience in setting up financial conservatorships, as well as personal conservatorships that allow you to make sound health and living accommodation decisions for your loved one.  Call 619-794-0243 to schedule a consultation for skilled, sympathetic legal help from a San Diego Law Firm who can help you with selecting and setting up the right legal mechanisms to protect your family member.

Decide if you want your agent’s powers to start now, or later

Just as important as what your agent can do is when they can do it.  A power of attorney can give your agent power right away, or hold off until a future event or condition happens.  We’ll explain the benefits and drawbacks with either option.  Your decision will depend on who you will name as your agent and your personal circumstances.

For example, take a look at the following scenarios:

      ●    Illness, Medical Conditions, or Accidents

You can have your power of attorney go into effect only if you lose the physical or mental capacity to make financial decisions, such as after an illness or accident. 

You may want to include a requirement that a doctor first determine the incapacity before your power of attorney can be used.  On the other hand, this delay can work against you in an emergency when a decision needs to be made immediately.  We’ll explain your options and take all of this into account when preparing your power of attorney. 

      ●    Temporary Absence

If you go on vacation without your kids, you may want to set up a special power of attorney for the time you’ll be away.  Even if you don’t have kids, if you’ll be gone for a long time you may need someone to manage your finances while you’re out of the country.

      ●    Spouses and Domestic Partners

Many spouses and domestic partners decide to make their powers of attorney effective immediately.  If you’re married or in a registered domestic partnership, you probably own most of your property together.  Even so, some transactions require authorization from both of you.  Also, some of your money and property may be in your name only, so you need the power of attorney to give your spouse access those assets if there’s an emergency. 

Make sure your power of attorney is done right

With years of experience behind us, your lawyer at San Diego Law Firm will create a power of attorney that follows California law and avoids the pitfalls of generic or poorly written powers of attorney.  That way, you can be much more confident that your power of attorney will be accepted by banks, investment firms, and others. 

An alternative to “Conservatorships”

Remember that if you lose capacity in the future, by creating a power of attorney you can decide who you would like to manage your finances.  This means that in many situations, a good power of attorney can help you avoid the need for a “conservatorship” down the road.  A conservatorship would require that a loved one go to court so that a judge can appoint someone to manage your finances and healthcare.

A properly written power of attorney – along with a similar document for your medical decisions (called an “advance health care directive“) – can help minimize family conflict.  While conservatorships can be necessary for some, many times a power of attorney is appropriate and can avoid the expense and time involved with creating a conservatorship in court. 

Also keep in mind that a living trust and a guardianship can do more than you think, because both can help you plan for possible incapacity.  Don’t miss your opportunity to plan for the future.  Reach San Diego Law Firm experienced estate planning lawyers at (619) 794-0243.

For many, a California conservatorship becomes vital for aging parents and other elderly persons who can no longer meet their basic living needs to take care of themselves.  Even so, these are not the only circumstances in which a conservatorship can be beneficial.  A serious injury or illness may have caused someone to lose the ability to physically take care of him or herself, or to competently make financial decisions.  A famous example involves Britney Spears.  Recently, the San Francisco Chronicle’s entertainment blog reported that Britney Spears’ conservatorship was extended, at least for the near future.  Spears’ father first became her conservator and maintained power over his daughter’s company after she was hospitalized for a psychiatric hold in 2008.  In any case, just as important as the question of whether a conservatorship is needed, is the question of who should be appointed conservator.  It’s a decision that should only be made after learning about a conservator’s legal duties and what it means to be responsible for the care of an incapacitated person.  Among other things, the conservator will provide accountings of income and expenses incurred in managing the incapacitated person’s affairs.  The probate court will supervise the conservatorship to ensure that the incapacitated person’s affairs are reliably taken care of and that the protected person’s rights are abided by.  Litigation can result if a conservator breaches his or her duties to the person being taken care of.

Conservatorships can be very demanding, and in light of this we’ll discuss whether a conservatorship is required, or whether there’s another way to meet the needs of your loved one that can be more appropriate and less costly.  For example, living trusts and durable powers of attorney are alternatives that may be available.  Even so, there are circumstances where a conservatorship is the best solution because it can go beyond a power of attorney.  There are many who profit from taking advantage of another’s incapacity, and a conservatorship can protect your loved one from potential fraud when he or she no longer can.  In the case of an aging parent or loved one, a conservatorship can also protect against elder abuse.  We’ll provide you with the information and advice you need in deciding whether to become a conservator, prepare your petition, and work to prove the necessity of a conservatorship in court.  We’re here to help conservators perform their duties and defend against wrongful claims, or can represent you if you have reason to contest the conservatorship.  San Diego Law Firm’s conservatorship lawyers can work to better protect your loved one and minimize tension and stress within your family.  Get help in finding the best solution available by contacting San Diego Law Firm at (619) 794-0243.