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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? | + |
| Joined 26 Jan 2022 1:01 pm
25 posts
9.4/10 Rating |
Dear Texas Daddy,
We've read your question. Based on our understanding of your situation, the only way to handle your mother’s financial and other needs is through appointment of a Legal Guardian.
A court-ordered guardianship allows you to safely and responsibly handle her personal and financial affairs.
The court can appoint a legal guardian who may handle all the needs of the disabled person, including medical decisions, or Guardianship of the Estate. This refers to the authority of the guardian to handle the money, property, bills, and other financial affairs of the "disabled person."
A guardian of the estate is required to handle the incapacitated person’s income and assets. The money available should first be used to provide for support and care of the disabled person.
The law states that the guardian of the estate is required to file a report with the court explaining how the money and finances have been handled.
To obtain more info on how to become a guardian please go to your county court or retain an attorney at law.
Disclaimer: Legal Helpmate Corp. is not a law firm and does not give legal advice. If difficult legal issues are involved, you should consult an attorney.
Best regards,
Customer Support
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