Two potential options for elderly individuals, when looking at long-term care planning, are conservatorships and guardianships. Both of these legal tools put someone else in charge of the elderly individual, with a focus on making important decisions and prioritizing their best interests. If an elderly person has a declining mental health condition due to something like Alzheimer’s, for example, they may need someone else to make decisions on their behalf.
However, guardianships and conservatorships are not identical. It’s important to determine what type of decisions will be necessary, as these arrangements fill different roles.
Making day-to-day decisions
When it comes to daily choices, a guardianship is usually the appropriate option. Maybe the elderly person needs help getting to medical appointments or finding a new living situation. Perhaps their mental state has made it difficult for them to care for themselves. A guardian can step in and take on this role for the elderly individual, in much the same way that a guardian would for a minor under 18.
Making financial decisions
A conservatorship, on the other hand, is focused on financial matters. In this arrangement, someone else is given control of the person’s bank accounts, bill payments, taxes and overall financial management. This can be helpful if the elderly person is making financial mistakes—such as forgetting to pay taxes—or if their condition makes them vulnerable to fraud or financial exploitation.
Finding a legal solution
Guardianships and conservatorships are just two legal tools that may be considered during this stage of life. Family members should understand all of the legal options available to them as they work to find the most appropriate solution.
