When going through the process of estate planning, you’re learning about durable power of attorney and guardianship. Now, you’re wondering if both are interchangeable should you need to use one or the other to fulfill your wishes. Here’s some more information on both so you can decide which one is best for you.
What’s a Durable Power of Attorney?
A durable power of attorney is a legal document that gives one person power to make decisions for you in the areas of your health care and finances should you become incapacitated. You can give them full power over all of your affairs or limit them to one area. It can go into effect immediately or only once you become incapacitated.
What’s a Guardianship?
A guardianship is an arrangement in which a person is appointed to handle your affairs because you no longer can. Unlike with a durable power of attorney, you may not be able to decide who your guardian is going to be. The court could make that decision for you. The guardian can act on your behalf when it comes to legal, health care, and financial affairs.
Durable Power of Attorney vs. Guardianship
Unless you’re in a position where you’re incapacitated already and don’t have the mental capacity to go through legal proceedings, then your family might be forced to put you under a guardianship. It is an alternative, but one that is more expensive and doesn’t give you any control over your situation.
Getting in Touch With Legacy Law Group
If you need help choosing a durable power of attorney or guardianship, you can contact the estate planning attorneys at Legacy Law Group in Eastern Washington, Spokane Valley, and Spokane itself. Get in touch with us at (509) 315-8087.