Living independently is a common goal as people age. Most older adults do not want to give up their independence during their golden years. Unfortunately, not everyone can safely remain independent after they retire.
Medical challenges and cognitive decline can make it all but impossible for individuals to appropriately manage their day-to-day lives and finances. Virginia state law provides a legal option for concerned outside parties.
Family members and even professionals can request conservatorship or guardianship when an older adult has demonstrated an inability to act in their own best interests. Understanding the difference between guardianship and conservatorship can help people seek the right type of authority.
Conservatorships address financial needs
A conservatorship is an arrangement in which a competent adult assumes responsibility for another adult’s financial matters. They manage assets, pay bills and make decisions about the expenses of aging adults. In some jurisdictions, people refer to conservatorships as guardianship of the estate. The goal is to limit financial abuse or the loss of resources that older adults may depend on when they can no longer work.
Guardianships are about daily life
Guardianship involves the delegation of responsibility for day-to-day life to another person. The guardian of an adult ward may make decisions about where someone lives and what medical care they receive. They are responsible for ensuring that the older adult has all of their basic needs met. Guardianship can be very valuable for those experiencing cognitive decline or dementia who cannot manage their own homes or daily routines.
Families may need to go to court seeking guardianship or conservatorship when an older adult struggles to meet their own needs. Partnering with a legal professional can help concerned parties take the right steps to protect vulnerable older adults accordingly.
