June 2023
Growing older brings its own unique set of challenges. For some, these challenges could involve a struggle with tasks that once seemed simple, like managing finances or making decisions about personal care. Cognitive decline or health conditions might inhibit others’ ability to look after themselves. If these scenarios seem familiar to you in the context of your parents, it might be time to consider guardianship or conservatorship. These options are legal tools designed to assist adults who can no longer manage their own affairs. What is guardianship? In a guardianship arrangement, one person (the guardian) receives the authority to make personal decisions for another (the individual). As a guardian for your parents, you would be making decisions about their health and welfare. For example, you might have to decide where your parents will live, what medical treatments they should get, or even what their daily routines should be like, and having a guardianship in place could assist you in doing so. Bear in mind, the court will only grant guardianship if it feels that your parents truly need it, cannot manage their affairs by themselves, and there are not other alternatives available. What is a conservatorship? If you take on the role of a financial conservator for your parents, you would handle their finances, pay their bills, manage their investments, and handle other financial tasks. You would only assume this responsibility if your parents are no longer capable of managing their own financial affairs. This inability could arise from a cognitive decline, like dementia, or simply because finances have become too complex for them to handle. Whether your parents need a guardianship, a conservatorship or both, is a decision that demands careful thought. These roles carry many responsibilities and demand serious commitment. Understand your parents’ needs and less restrictive options available thoroughly before making this decision.
Choosing a guardian/conservator is an important decision, especially if you have minor children or dependents. Delaying this decision can lead to complications and uncertainties that can affect your loved ones’ futures. Here are some reasons why you should not wait to select a guardian for your Washington estate plan. 1. Providing stability and security Selecting a guardian/conservator is about ensuring that your children or dependents have a stable, secure and loving environment in your absence. If you do not designate a guardian/conservator, the court will do it for you. The court will undoubtedly aim to act in the best interest of your children, but it might select someone who might not be your first choice. By designating a guardian/conservator promptly, you get to choose who you feel is best. 2. Preventing family disputes Different family members might have varying opinions on who should take care of your children, leading to disagreements and possible legal battles. By promptly choosing a guardian/conservator, you can avoid such disputes and ensure a smoother transition for your children. 3. Peace of mind Knowing that someone you trust will take care of your children brings peace of mind. By making this decision early, you do not have to worry about the outcome. 4. Time to prepare Early selection of a guardian/conservator gives them time to prepare for their role. It can be a significant responsibility, and having time to get ready can be beneficial for both the guardian/conservator and your children. Delaying the selection of a guardian/conservator for your Washington estate plan is not a risk worth taking. By making a thoughtful and timely choice, you can provide a sense of security and stability for your loved ones.
Hashing out plans for your death is not something you should take lightly. It involves a lot of thinking and planning to make the experience easier for your loved ones both financially and emotionally. There are some actions you should take after completing your estate planning documents to ensure that the people you love will know what they should do and how they should do it. Getting your loved ones through the difficulty of your death means making sure they can find what they need to move forward. We suggest leaving a letter of instruction to help facilitate a smoother transition during an emotionally hard time. Where is your will? Right after your death, it falls to your family to locate the paperwork they need to begin the probate process. What if they do not know where these items are? When you create your will, you need to decide where to store the original. Not only that, but you should also provide copies to important people so they can refer to it after you die. On these copies, you should indicate where the original is and how they can access it to start probate . What about passwords? Dying and leaving instructions to find your will is one way to help your family out. But you should also leave updated passwords so they can access accounts to do things, such as turning off unnecessary utilities or finding assets and debts to list for probate court. Again, give this information or the location of it to one or two trusted people so that they may begin getting your affairs in order after your death.
