Senior Connection Expo

February 28, 2018

Guardianship, Conservatorship & Probate:
What, When and How to Avoid Them

“All Bob McGuire wanted was to cash out his wife’s modest retirement account and use the money to pay the mountain of bills that have accompanied her dementia diagnosis. After nearly a year, the 75-year-old Surprise resident and Navy veteran has racked up $6,000 in legal bills and court fees to access the $25,000 individual retirement account.” AZ Central, 02/14/2018. https://www.azcentral.com/story/news/local/surprise/2018/02/14/surprise-man-spends-thousands-probate-court-costs-he-tries-help-wife-dementia/302714002/

Neither Bob nor his wife Linda had executed any estate planning documents, which could have prevented the need for him to obtain conservatorship over his wife when she became incapacitated. This story is all too common. Legal and financial planning may prevent the need for guardianship, conservatorship, and probate and should not be overlooked, even when you are still young and healthy.