The realities of aging often mean that family members are faced with assigning adult guardianship as a means of protecting an elderly family member's assets. One-quarter of the Canadian population will be over the age of 65 by 2041.
Knowing when it is the right time for a trustee application can be difficult, though. Keep reading, and we'll explore the differences between guardianship and trusteeship. Then we will describe when it is the right time to seek one of these services.
WHAT IS GUARDIANSHIP?
Guardianship empowers someone to make decisions on behalf of a represented adult or minor. These decisions could determine where the represented adult lives, what health decisions they make, or what activities they participate in. There are three main types of guardianship.
Guardianship Over the Person
This type of guardianship makes the guardian responsible for the protection and well-being of the protected person. The guardian makes medical decisions, for example. They may also determine where the person lives or goes to school.
WHAT IS TRUSTEESHIP?
Courts can give a trustee power to make financial decisions on behalf of someone who is incapacitated. When someone is unable to make financial decisions on their own, someone must act as their trustee.
Trustees are limited to making financial decisions. Typical roles played by these legal representatives include signing contracts, managing real estate, managing bank and investment accounts, paying expenses, tracking income, and filing taxes when due.
WHEN IS THE RIGHT TIME FOR GUARDIANSHIP OR TRUSTEESHIP?
Courts assign a guardian when an individual is unable to handle their own basic needs. A heart attack or medical condition may render the protected person debilitated. A stroke or other ailment that affects the person's mental capacity can lead to the need for guardianship too.
Guardians are commonly appointed for developmentally disabled persons. Individuals with Down Syndrome and low-function autism often need these services.
Incapacitated individuals may need a trustee or guardian. This could be due to a mental deficiency, disease, or loss of consciousness following an accident.
LEARN MORE ABOUT ADULT GUARDIANSHIP AND TRUSTEE APPLICATION
Adult guardianship trusteeship is a legal remedy allowing a court-appointed guardian or trustee to make decisions on behalf of an incapacitated adult. If a loved one is incapacitated, a trustee application can ensure their assets are protected. The experienced lawyers of First West Law LLP in Calgary can assist in obtaining a court order for adult guardianship and trusteeship.
Call us today to set up a consultation. We provide services professionally and cost-effectively.