One of the most emotionally painful things for any Texas son or daughter to experience is to witness his or her parent lose the ability to think clearly. The fact is, dementia, Alzheimer's disease, strokes and other mentally incapacitating conditions happen to a lot of parents as they get older. The most common way that children navigate these issues involves taking control of their parents' estates by obtaining guardianship over their affairs; however, guardianship alternatives can also be chosen.
Guardianship issues can be complicated and stressful to navigate, so many individuals want to know what alternatives exist. One way to circumvent guardianship is for parents to set up a power of attorney in their estate paperwork. Generally, a power of attorney gives a trusted individual the ability to handle an individual's medical or financial affairs in the event of incapacitation. A medical power of attorney allows an individual to make decisions about medical care, and a financial power of attorney allows another person to make decisions related to finances.
Other strategies include trust planning. With trust planning, an individual's assets are moved inside of a trust, and another trusted person, called the trustee, is provided the authority to use the assets in accordance with the rules and guidelines set forth in the trust. A management trust is another avenue available to Texas residents. This kind of trust is managed by a bank or trust company.
At the Law Office of Sharon C. Stodghill, we want to help you and your family care for one another in a way that is free of conflict, free of stress, and sidesteps any legal problems later on down the road. We also have over 25 years of combined experience in guardianship matters. Finally, if guardianship is not right for your situation, we can help you explore all the guardianship alternatives available to select the best way of caring for your loved one with dignity and grace.