If you are a caregiver who handles financial matters for your loved one, there is a lot of legal
terminology to navigate. It's important to understand what the designation allows so that you
will know what is needed in financial matters.
At Redstone, we accept Powers of Attorney, Letters of Guardianship, and Letters of
Conservatorship. Each individual case determines which document is required.
Here are common terms you need to know:
Power of Attorney
A Power of Attorney is a legal document that allows you to appoint a person to act and make
financial, legal, or medical decisions on your behalf.
Guardian
A legal guardian is a person named by the Court who has the legal authority of making
decisions regarding the health, support, education, or maintenance of an incompetent or
incapacitated person. is can be an expensive and time-consuming process requiring
confirmation of incapacity by medical providers to the Court.
Conservator
A conservator is a person named by the Court who has the legal authority to manage the
estate or property of an incompetent or incapacitated person.
One of the best things you can do is plan ahead. If it's a family member, talk to your loved one
about his or her wishes and the importance of creating documentation designating trusted
people in advance to help handle affairs once they are no longer able. It is important to discuss
these roles to ensure everyone is on the same page.
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