What Would Happen if I were Mentally Disabled and had no Estate Plan or just a Will?
The possibility of a disabling injury or illness can be worrisome. Unfortunately, you may have to become the subject of a conservatorship or guardianship proceeding. If you become mentally disabled before you die, the probate court can appoint someone to take control of your assets and personal affairs. These court-appointed agents must file a strict accounting of your finances with the court. A Living Trust will help avoid this process because your assets are titled in the trust; and you have already appointed someone to act as the successor trustee of your trust if you are no longer able to act. Additionally, if you have created a Durable Power of Attorney and Health Care power; you have already given someone else the ability to make both financial and health care decisions on your behalf. In short, with a properly drafted and complete estate plan, you can eliminate the need for a guardianship or conservatorship.
Law firm in York, Maine specializing in Civil & Criminal Litigation, Estate Planning, Family Law, and Business Incorporation, serving the communities of Southern Maine in York and Cumberland counties including: York, York Beach, Kittery, Kittery Point, Eliot, South Berwick, North Berwick, Ogunquit, Wells, Kennebunkport, Kennebunk, Alfred, Lyman, Arundel, Biddeford, Saco, Sanford, Springvale, Acton, Shapleigh, Limerick.
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