Comparing power of attorney and guardianship, let us distinguish each. Which one is suitable for a person with Alzheimer’s? So let us know about the will and power of attorney in Melbourne and guardianship.
The former is a lawful document wherein one person or group of persons allow another to act on his or her behalf. The financial document authorizes an agent to decide for you regarding your property. The healthcare document also allows an agent to decide regarding your healthcare needs. This power of attorney will appoint a person to handle your business and financial affairs when you fail to do it yourself this time.
The will and power of attorney in Melbourne will save you in times of crisis when you encounter accident or illness. The agent can do whatever is permitted in the document, such as withdraw your bank funds, buy or sell your property, pay existing bills, or encashment of checks.
Guardianship, on the other hand, is a lawful relationship where the probate court assigns a person the power to make a personal decision for another. This may need a guardianship document that is different from the will and power of attorney in Melbourne in times of sickness or accident.
A family member or a friend can create the legal action by filing a petition in the probate court in the county where the individual resides. To establish the person’s condition, a licensed doctor may need to do a medical examination. To gage the persons’ abilities about his or her health and safety, the court may have to determine the essential requirements. The guardian will need to report to the court yearly.
So learn to evaluate your condition with all this in mind. You need to decide whether you need will and power of attorney in Melbourne or guardianship. What will you do if you can no longer manage your affairs? Consult a legal professional specializing in Elderly law, who can provide assistance and advice regarding this matter. By doing this now, you save you and your loved ones from heartaches and financial expenses in the future.