Incapacity Planning & Guardianships

While “disability” and “incapacity” can be used interchangeably, they carry distinct definitions.

Disability encompasses a range of conditions and impairments that affect a person’s physical, mental, sensory, or cognitive functioning and limit their daily activities.

Disabilities can be congenital, acquired, or the result of injury or illness.

Incapacity often pertains to a person’s inability to manage financial affairs, make medical decisions, or engage in legal transactions. It is usually a temporary state and can vary in severity and duration.

Although both can influence various life and legal scenarios, they address different facets of an individual’s well-being.

Disability planning and incapacity planning share a common objective: establishing safeguards for the legacy painstakingly built over a lifetime.

This type of comprehensive planning considers assets, finances, family care, healthcare choices, and more.

Rather than leaving your family’s future to chance, consider incapacity planning to mitigate the impact of life’s unforeseen twists and turns.

Understanding Different Types of Guardianship

There are two distinct areas where guardianship can be designated. 

 However, these two types can be combined for your loved one if needed.
Both guardianship types entail overseeing an individual’s life, but each role has specific responsibilities.

Guardian of the Person

• A guardian of the person attends to the physical and personal needs of the individual. This could mean ensuring they have food, clothing, shelter, and safety.
• Most significantly, the guardian is entrusted with two critical responsibilities: residential placement and medical power of attorney.
• These duties could be arranging suitable living conditions or coordinating medical services and treatments for the ward. The guardian will make informed decisions for the ward, considering their preferences, financial situation, and physical condition.

Guardian of the Estate

• A guardian of the estate oversees the financial matters of the ward. They manage, preserve, and safeguard the ward’s assets.
• This may include handling income, appraising property on behalf of the ward, and ensuring financial stability.
• Guardianship of the estate is typically established when an individual cannot manage their financial affairs but possesses sufficient income or assets that require oversight.
• The guardian must regularly report to the court regarding the estate’s status or how funds were used.

If you have a loved one who may fit one or both of these scenarios and needs assistance, contact our office to determine how to get your loved one the help they need.

The Significance of Planning for Incapacity Early

Completing incapacity planning early can have increasing benefits over time.

Key advantages include:

Caring for your Loved Ones

One of the most significant concerns people have is the ability to care for their children and loved ones adequately.

Incapacity planning empowers you to designate caregivers for minors, elderly parents, pets, and other dependents, ensuring their well-being.

Making Future Financial Choices

In sudden incapacitation, questions arise about managing financial responsibilities like your mortgage or credit card payments.

A well-structured plan guarantees you maintain control over your financial affairs, regardless of the circumstances.

Appointing Healthcare Representatives

While North Carolina may have guidelines for end-of-life care, crucial decisions such as continuing or discontinuing life support can be entrusted to your chosen healthcare representative.

Outlining Healthcare Decisions

Incapacity planning leaves no room for ambiguity regarding your medical care preferences in the event of severe health issues.

Planning for incapacity while you are of sound mind and body ensures your wishes are clearly articulated and honored.

Confront life's uncertainties today.

If you’re prepared to chart the course for your desired future but are uncertain where to begin, our experienced Asheville team offers guidance and support.

Contact us at (828) 809-1629 or click here to get started today.