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What is the Difference Between a Power Of Attorney and a Guardianship Which is Appropriate for Someone With Alzheimer’s
William G. Hammond, JD
A power of attorney is a legal document in which one person the principal authorizes another the agent to act on his/her behalf. Financial powers of attorney allow your agent to make decisions regarding your property. Healthcare powers of attorney allow your agent to make decisions regarding your health care needs.
A power of attorney permits you to appoint someone else to manage your financial and business affairs when you cannot do it yourself anymore.
This document can be a lifesaver when crisis situations occur after an accident or illness. The agent can do whatever the document allows, such as withdraw bank funds, pay bills, cash checks, and buy and sell real estate. The power of attorney is less costly and more private than a guardianship.
Guardianship, on the other hand, is a legal relationship whereby a probate court gives a person the guardian the power to make personal decisions for another the ward.
A family member or a friend can initiate the proceedings by filing a petition in the probate court in the county where the individual resides. A medical examination by a licensed physician may be necessary to establish the individual’s condition. A court of law will then determine whether the person is unable to meet the essential requirements for his/her health and safety.
A conservatorship is a legal relationship whereby the probate court gives a person the conservator the power to make financial decisions for another the protectee. The court proceedings are very similar to those of a guardianship except the court determines whether an individual lacks the capacity to manage his or her financial affairs. If so, the court appoints a conservator to make monetary decisions for the individual. Often the court appoints the same person to act as both guardian and conservator for the individual. Like the guardian, the conservator is required to report to the court yearly.
With all this in mind, you should evaluate your situation. What would you do if you could no longer handle your own affairs You may want to consult with an attorney specializing in Elder Law, who will be able to assist you and advise you in this matter. By doing this now when you still have the time, you will save yourself and your loved ones heartache and financial expenses in the future.
Customer Service – the Real Estate Revolution
Traditionally, real estate has been viewed as a sales industry. But perceptions are changing. Agents around the country are coming to believe that the key to real estate success is service – not sales.
Joel Osteens Your Best Life Now - Book Review
Your Best Life Now by Joel Osteen - Book Review by Mike MatthewsRating - 4 out of 5 StarsThe Best Advice in the bookBest Prices for the Book, CD and CassetteJoel Osteens 7 steps to your Full PotentialCritics and FollowersWhat I LikedWhat I didnt LikeJoel Osteens bioOn-line Streaming Videos, Interviews and the BlogYour Best Life Now - Why you should buy it today
I was all set to write an article predicting the future of search engines, when Yahoo dropped Google and replaced it with its own engine. Now thats big news. In less than twenty-four hours, Google went from about 79% of the market share to about 51%, almost overnight. And what a welcome relief it is too! Being #1 in Google was great, but when you had the misfortune of dropping even a couple of positions you really felt it. Now there will be more stability; if you drop in Google today, your hits from Yahoo will remain consistent.
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Chances are you may need a little extra money to get some work done around the home or perhaps your current interest rate is 7.5% and the prime interest rate is 6.0% there is a benefit to restart the clock on an existing mortgage and save thousands of dollars over the life of the loan. The first thing you must realize is that refinancing your home can also be tax deductible, meaning that you will receive an extra tax advantage for the closing costs associated with a refinancing no matter what the condition, even in bankruptcy!
Hire Divorce Lawyer or Use Online Divorce Forms
When do you need to hire a family law attorney and when is it okay to just use an online divorce form website to save a little moneyThis article will provide a few pointers to help you decide whether to do it yourself or retain a divorce lawyer.
Is Day Trading Right For You
Do you have the tolerance for the risk involved with day trading Day trading is not a get rich quick business. It is not technically even investing. This competitive game of day trading is speculation at its core and the odds are against you in favor of failure. But for those who crave this type of environment it can be a very exciting and profitable venture. A study in 1999 found that 70% of day traders lost money and of those that made money the profits were made from just one trade.
Flipping Fixers: Using Transformation Psychology for Top Dollar
Satisfying and lucrative real estate investment depends upon your correct assessment of profit potential, of course, but your ultimate success depends on your ability to transform a fixer into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits.
Sub Domains - An Inexpensive Solution to Grow Traffic
Read this brief article that reflects what we learned about subdomains and their important role in effective internet marketing.
Random Whimsy: Uncensored Interview with Dan Lok
Norman Williams, publisher of "Big Money Publishing Newsletter," recently did a Q&A about me.
How Long Your Mortgage Runs Determines How Much You Pay
The first thing most of us think about when the time comes to take out a mortgage on a new home is the interest rate.
The 3 Keys To Business Victories
No matter what business you are in there is a high chance of failure. Why Because most people dont do the research and keep the right focus needed to succeed.
A Few Easy Ways To Take The Headache Out Of Moving
Moving from one house to another is always a challenge, but it doesn’t have to be a nightmare.Here are some simple tips on how to get it done with minimal stress and strain.
Do You Know the 4 Traits that Guarantee Home Business Success
When home business success comes it does not come by luck. In fact, when you analyze the characteristics of the most successful home based business entrepreneurs you start to realize that they all share four key traits in common.
Do I Need Raised Letter or Full Color Business Cards
If youve been searching around for business cards that will best represent the image you want to portray for your business, then youve no doubt encountered many options. The Big Two, as I like to think of them, are "Raised Letter" and "Full Color."
Real Estate Auction Action - Buying A Home At Auction
Due in part to the popularity of the U. S. Department of Housing and Urban Development HUDs home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction arent limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!
Psychological Tricks in Selling
In this article, Im revealing six powerful secret psychological tricks that you can use to increase the effectiveness of your advertising and marketing. What if you dont sell anything Should you ignore this information
Its The Same Deal For Both Search Engines And Real Estate
Its all about location, location, location!
Personal Branding Techniques for Real Estate Agents and Brokers
A key principle of marketing is to find something unique about what you offer as the basis of your sales message. Even if what you offer is a commodity, there is always one thing unique in your business -- you. A big error made by many Real Estate Agents and Brokers is to try to develop an institutional image like most big companies. People do not like to do business with institutions; they like to do business with people. In advertising terms, branding is the "image" created in the minds of people when they see or hear a name, product or logo. Companies invest a lot of money in creating and maintaining their brand, but the Internet has sparked a new trend called "Personal Branding". Personal branding isnt only important for promoting a product, business or political cause, but also for promoting yourself for advancement within your own organization. It involves developing your personal reputation. Branding can be done to any product, or any person. Before undertaking an exercise in personal branding, however, consider your distinctive strengths and abilities and what they offer the market place. Traditionally personal branding was for sporting celebrities who gained enormous coverage and following through their sporting prowess. Movie stars have also had celebrity status and association since movies began.
How To Realistically Set Your Fees - Part 5
How To Raise Your Fees
I Would Give Anything To …
A couple days ago I was listening to a CD by one of the most successful speakers in the industry. He has been around for many years and is considered one of the greats. He is also considered to be somewhat off the beaten path.As much as he is admired and respected by many, he is judged by just as many. The segment I found most intriguing was one about how others often say to him, “I would give anything to be a successful speaker and author just like you.”
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