Most older adults want to maintain their independence. Many people structure their plans for their golden years with the intention of aging in place and remaining as independent as possible. However, there are occasionally scenarios in which older adults may no longer be capable of managing their own affairs.
Perhaps they have failed to appropriately manage their financial responsibilities in recent months. Maybe they have been displaying an increasing degree of confusion, missed critical medical appointments or otherwise demonstrated difficulty living independently. They may even have a major medical diagnosis that helps explain their decline in capabilities.
Older adults may eventually require the support of other people to ensure their financial stability and safety. If concerned family members believe they need to take legal action for the protection of a vulnerable older adult, they have several options available to them, including conservatorships and guardianships.
Guardians manage daily affairs
People may find it easy to understand the concept of a guardianship because they are familiar with the idea that guardians can replace parents in tragic situations. When an adult can no longer consistently act in their own best interests, they may require the support of a guardian. Guardians are competent adults who accept responsibility for another person’s daily needs. They decide where a vulnerable individual lives, oversee their medical care and ensure that they have the support necessary for their comfort and health. There are both limited and full guardianships available depending on the level of support that a vulnerable adult may require.
Conservatorships provide financial support
A conservatorship is somewhat similar to a guardianship, but its focus is different. In a guardianship scenario, the courts assign financial responsibility for an individual’s resources to another party. Conservatorship is sometimes necessary when people have fallen victim to fraud previously or when they have consistently mismanaged their resources, leaving them at risk of eviction, foreclosure or other significant financial consequences.
Those concerned about the mental status or overall well-being of vulnerable older adults may need to consider pursuing guardianship or conservatorship. Gathering evidence of compromised capacity and learning more about the litigation process required could help people take necessary steps for the protection of a vulnerable loved one.
