Texas has a legal system to protect persons who are unable to care for themselves due to physical and mental incapacity. After an individual is found to be incapacitated by clear and convincing evidence, and that it is in their best interest, the Court may appoint a guardian who has the legal authority to help with individual with medical and/or financial decisions.
This system, called “guardianship” is court-supervised, and involves multiple attorneys, hearings, and ongoing court involvement. Because the guardianship process involves the courts, it can be expensive, costing thousands of dollars. If the proceedings become contested, the legal fees can really skyrocket. Is there a way to avoid these costs, or make your wishes known in advance of incapacity?
Yes! Texas views guardianship proceedings as a tool of last resort. Courts will look for less restrictive alternatives before granting a guardianship. Examples of less restrictive alternatives include powers of attorney and medical directives, which are staples of any comprehensive estate plan. Furthermore, living trusts can help avoid guardianship, because a trustee already manages the assets, and the trustee role just turns over to a successor.
By putting the right documents in place now, you can avoid costly guardianship proceedings in the future.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.
