Many families face tough decisions when a loved one can no longer manage their affairs. Guardianship and estate planning often intersect, affecting an individual’s future and their family’s well-being. Residents of Decatur and nearby areas need to know how guardianship shapes estate planning to protect their wishes and assets.
What is guardianship?
Guardianship means a court appoints someone to make decision for a person who can no longer manage their affairs. In Wise County, the probate court oversees this process, which can involve guardianship of the person, estate or both.
Guardianship’s effect on estate planning
When a court establishes guardianship, it can change or override parts of an existing estate plan:
- Power of attorney: Guardianship typically replaces any previous power of attorney
- Will changes: The guardian might gain the power to create or modify the ward’s will, with court approval
- Trust control: Guardians may take control of trust assets if the ward has established trusts
- Asset management: A guardian’s decisions about assets can change how property is distributed later
Before guardianship: planning ahead
Wise County residents can take steps to prepare for potential incapacity:
- Create advance directives
- Set up durable powers of attorney
- Establish well-structured trusts
These tools help avoid the need for guardianship altogether.
The relationship between guardianship and estate planning highlights the importance of early preparation. Families benefit from creating thorough plans before incapacity occurs. This approach helps protect individual choices while ensuring proper care and asset management if someone cannot make decisions.
