3 reasons to file for an adult guardianship

When your elderly parents can no longer make decisions for themselves, what should you do? Depending on the circumstances, there are a couple different options.

While many elder adults include a power of attorney in their estate planning, there can be some limits to this approach. As a result, sometimes an adult guardianship is necessary. Here are three reasons to consider this latter option instead.

1. If you are trying to sell property or investments

One the biggest limitations with a POA involves real estate and investments. For example, even if you have POA, you may not be able to sell either of these things. Depending on your state laws, you may have to file for a guardianship. In addition, the law does not require financial institutions to accept POAs. As such, many institutions limit the timeframe for when they will even consider them.

2. If your parent refuses to sign a POA

If your mom or dad refuses to sign a POA, it can be a challenging situation to be in, but it is not uncommon. When you start to worry about whether your parent understands the documents he or she is signing due to mental deterioration, a guardianship can help you protect his or her best interest.

3. If you disagree on a nursing home

Another difficult situation that can lead to a need for something beyond a POA is when you and your parents disagree on a nursing home. If you need to admit a parent to a nursing facility but he or she refuses to go, an adult guardianship can provide the legal means to begin the admission process.

Although taking care of loved ones as they age can be challenging, having a legal guardianship in place can make the situation easier.