Elder Law Traps: Guardianship Abuses Draining Savings
As we age, our physical and mental capabilities can decline. This can make it difficult to manage our finances and make important decisions for our well-being. In these situations, guardianship can provide a solution by appointing a legal guardian to act on our behalf. However, there are increasing reports of guardianship abuses, particularly in regards to draining the savings of the elderly. In this article, we will explore the traps of elder law in relation to guardianship and how to protect oneself from falling victim to these abuses.
The Purpose of Guardianship
Guardianship is a legal system that allows for the appointment of a guardian to manage the personal and financial affairs of an individual who is deemed incapable of managing their own affairs. This can happen when a person becomes incapacitated due to age, disability, or illness. The purpose of guardianship is to provide protection and support for those who cannot make important decisions for themselves. However, this system is not without its flaws, and there have been increasing reports of guardianship abuses, particularly in relation to draining the savings of the elderly.
Guardianship Abuses
Unnecessary Guardianships
The first trap of elder law in regards to guardianship is the unnecessary appointment of a guardian for an elderly person. In some cases, family members or friends may petition for guardianship in order to gain control over the elderly individual’s assets. This can happen when the elderly person is still capable of making their own decisions, but the potential guardian sees an opportunity to take control of their assets.
Financial Exploitation
Once a guardian has been appointed, they have complete control over the elderly person’s finances. This presents the risk of financial exploitation, where the guardian may use their authority to drain the savings of the elderly individual. This can include selling off assets, charging excessive fees, or even outright theft. In some cases, the guardian may also pressure the elderly person to change their will, leaving their assets to the guardian instead of their intended beneficiaries.
Lack of Accountability
Another issue with the guardianship system is the lack of accountability. Guardians are required to submit reports to the court detailing how they have managed the finances and well-being of the elderly person. However, these reports are often not closely scrutinized, and there is a lack of oversight. This lack of accountability makes it easier for guardians to get away with abusing their authority.
Protecting Yourself from Guardianship Abuses
The thought of losing control over one’s own affairs and having their savings drained by a guardian can be terrifying for many elderly individuals. It is important to be aware of the traps of elder law in relation to guardianship and take steps to protect oneself.
Plan Ahead
The best way to avoid falling victim to unnecessary guardianships is to plan ahead. This includes seeking advice from an estate planning attorney to ensure that your wishes are clearly stated in a legally binding document. This can also include appointing a durable power of attorney to make financial and/or healthcare decisions on your behalf if you become incapacitated.
Choose Your Guardian Wisely
If guardianship becomes necessary, it is crucial to carefully consider who the guardian will be. This should be someone who is trustworthy, responsible, and has the best interests of the elderly individual at heart. In some cases, a professional guardian may be a better option than a family member or friend.
Seek Legal Assistance
If you or a loved one has been a victim of guardianship abuses, it is important to seek legal assistance. An experienced elder law attorney can help you navigate the legal system and protect your rights. They can also assist in petitioning the court to remove an abusive guardian and appoint a new one if necessary.
Conclusion
The concept of guardianship is meant to protect the well-being and finances of those who are unable to make decisions for themselves. However, it is crucial to be aware of the traps of elder law in relation to guardianship that can result in the draining of savings and financial exploitation of the elderly. By planning ahead and seeking legal assistance, one can protect themselves from falling victim to these abuses. Always remember, the best defense against these traps is knowledge and preparation.
