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Estate Planning >> Elder Law >> How to handle financial affairs of incompetent?

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Discussion: How to handle financial affairs of incompetent?+

#40, posted 27 Jan 2022 4:33 pm, in reply to #5200 words
Customer Support (Offline)

Joined 26 Jan 2022 1:01 pm

144 posts

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Dear Texas Daddy,

You are right saying that it is too late for your mom to sign a Power of Attorney appointing you as her agent, because she is already incompetent.
Power of attorney may only be executed if the Principal (person delegating her rights) is fully competent.

As we understand you situation, the only way to proceed with the management of your mom’s financial affairs is to petition the court for appointment of a guardian.

In Texas, an incapacitated person is defined as an adult who, because of a physical or mental condition, is substantially unable to provide food, clothing, or shelter for herself, to care for her own physical health, or to manage her financial affairs.

We recommend you to check the requirements for application for guardianship at your local county court.

Please note, that the appointment of a conservator constitutes a finding of legal incompetency only if the order specifics that the court determined that the person was unable to manage his/her property or affairs effectively because of conditions which are listed.

Please be advised that Legal Helpmate is not a law firm and we do not give legal advices to the public.

Best regards,

Legal Helpmate

Edited 1 May 2022 11:37 pm by Customer Support Reply  
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