Estate Planning Law Firm St. Peters, MO
Are you in the process of developing your estate plan? Although you likely have an idea of what needs to encompass your estate plan, there may be a number of considerations that you hadn’t even realized needed to be made. Many consider and make plans over how their assets will be divided and what their funeral arrangements may be upon passing. However it’s key not to neglect to plan for those who may require your financial support after you have passed away. Some, may consider a conservatorship when caring for someone unable to manage their financial affairs and make decisions on their own. When planning for someone who is incapacitated and unable to make financial decisions, it’s important to speak with an attorney regarding your options. Hiring an attorney may be able to help when developing your estate plan and ensuring your loved ones are properly cared for.
Is My Loved One Incapacitated?
When a person has been deemed incapacitated, they are unable to make key life decisions for themselves. Prior to making this decision, a hearing is generally held by the courts to assess their ability to:
- Communicate their wishes
- Understand decision making surrounding their health, finances and living situation
There are a variety of reasons that someone may require a conservatorship such as:
- Someone who has had a stroke
- Someone with a brain injury
- Someone who has dementia or alzheimer’s
- Someone with cognitive delays
If you have conservatorship over a partner, family member or adult child who is incapacitated, chances are created a plan for them in the event something happens to you will be key.
What is a Conservatorship?
When a person is unable to manage their affairs, a conservatorship may be necessary. A conservatorship is appointed at a court proceeding once the court has determined that a person is incapacitated. If you have a child or partner that is incapacitated and in your care, planning a conservatorship in the event of your passing will be key. It will be important to discuss the need to appoint a conservator with an attorney to ensure that you have put in the proper planning for your family. Duties of a conservator include:
- Being accountable to the courts and requesting their approval for specific situations
- Filing care plans with the courts
- Managing assets
- Making decisions regarding your loved ones living arrangements
- Covering expenses and filing tax returns
Putting the care of a family member into the hands of another can be difficult. You will have to fully trust the person you are giving this responsibility to. In addition, it’s important to make sure that you have spoken with the person to ensure that they are willing to take on this responsibility.
An Attorney Leaves Nothing Out
If you have a family member who are incapacitated, contact an estate planning law firm St. Peters, MO residents turn to at Sweeney Legal. There are a number of benefits to acquiring an attorney for estate planning needs such as conservatorship. An attorney can help you to weigh your options and appoint a conservator in your estate plan to manage the affairs of your special needs adult child.
An estate plan is key for both you and loved ones for a variety of reasons. Not only does it provide family with peace of mind and a clear path in the event you were to pass away, it helps to ensure that your wishes are carried out in the way you would like. Some situations require for further planning, especially if you have a partner or adult child who is incapacitated and unable to make financial decisions.