What a topic to discuss. First we hear of Brittany Spears conservatorship which is a little different, but now we hear of Jay Leno filing for Conservatorship through the Court as a result of his wife's illness. Why do we fail to put the right documentation in place while we are well and cognitive to our surrounding?
What is it with people when it comes to planning for life events or end of life planning? It always seem that people are not comfortable to discuss this topic, let alone to be bold to execute the documents that will give self control over their lives. Instead, of going through the Court System that is time consuming, and much more expensive to the person filing. It does not matter if we are poor, middle class or filthy rich. We see this pattern ongoing over and over again. One woman told me she is too young, yet she is at the age of 55 and another young man told me he is not ready.
Yet another associate states creating this document is placing a death sentence on him. Two things in life are certain: Death and taxes and we can't escape either. All legal documents can be drafted as early as the age of 18 in the state of Florida, so as the saying goes, "age is just a number."
Well, let us see if we can get some understanding by comparing these two documents. Hopefully, it will shed some light on the two.
Power of Attorney is voluntary, while conservatorship is not
Power of Attorney is created by the individual called the Principal, while conservatorship is created by the Court
Power of Attorney is a private matter; can be done at a fraction of the cost much simple, can be changed at any time, compared to that of conservatorship which is public, time consuming to process, and changes can only be made by the court. In addition, it is much more expensive.
Power of Attorney is created in advance of incapacity, while conservatorship is a petition to the court when an individual becomes incompetent to handle their health and financial affairs.
Life happens and health unfortunately is not promised to every individual. Car accidents or any other health events can leave us debilitated, but we don't think of these things. These incidents are not prejudice to a certain sect as if affects everyone of us no matter our status. Take the courage and time to move this important matter forward so that your family will be able carry out your wishes without any difficulty, as a Lawyer or Notary Public, will not be able to assist you if your love one is deemed incoherent to carry out any of these transaction. I am so proud of my Mother who had all her documents done that on her passing due to illness everything went smoothly for all of our siblings.
