Tag: Los Angeles Conservatorship

Conservatorship Planning Attorney in Los Angeles

CONSERVATORSHIP

When should you hire a Conservatorship Planning Attorney in Los Angeles?

Clients in Los Angeles often ask us whether they need to hire a conservatorship planning attorney for an elderly or aging parent, or a disabled child.

Below is a short checklist to help you make the decision when there are no valid power of attorney documents in place:

1.   Can your aging or disabled parent properly administer medication to himself or herself?

2.   Can your parent understand the consequence of making a medical decision?

​3.   Can your parent provide food or shelter for himself? Cook safely or buy food.

4.   Is your parent influenced by someone to give away his or her money?

​5.   Are there signs that he or she cannot be safe when left alone at home?

​6.   Is your parent regularly bathing himself or herself?

7.   Does your parent clean clothes or wash his or her clothes?

8.   Are there bills that are unpaid?  This is the number one sign for need for assistance.

9.   Is he or she forgetful of recent events?  While some forgetfulness is normal, repeated unpaid bills, or utilities having been turned off, is a sign that he/she needs help.

10.  Are there people who are trying to take financial advantage of your aging parent? Caregivers, contractors, family, and neighbors are the number one perpetrators of elder financial abuse.

CAN I GET A CONSERVATORSHIP IF THERE IS A POWER OF ATTORNEY IN PLACE?

Yes. Old or invalid Power of attorney documents can be suspended or revoked by the court.   You can appoint a conservator, and ask that the court suspend the agent under a power of attorney for good cause.   An agent under a power of attorney can be forced to account for the assets of the person which they handle.

WHAT TO DO FIRST WHEN MOST OF THE ANSWERS TO THE ABOVE QUESTIONS ARE YES?

1.  Check to see if there are valid Advanced Directives and power of attorney documents in place.  If you question the validity of a power of attorney, call us.

2.   Call Sirkin Law Group at 818.340.4479 and ask for a call assessment regarding your case.

3.   Ask us to give you a Capacity Declaration to be completed by a physician.   If your loved one will not submit to a doctor’s examination, please call let us know.  We have solutions for this.

4.   Gather a list of medications and assets of your loved one.  Be sure to read our article regarding aging parents.

5.   Set an in-person appointment to go over the Conservatorship Procedures in Los Angeles County.

Mina Sirkin, Conservatorship Attorney Los Angeles  at 818.340.4479.   Our attorneys serve the Los Angeles, Glendale, Pasadena, Santa Monica, West Los Angeles, Venice, Marina Del Rey, Woodland Hills, Calabasas, West Hills, Tarzana, Canoga Park, Studio City, Thousand Oaks, Agoura, Chatsworth, Northridge, Canoga Park, Winnetka, Encino, Sherman Oaks, Burbank, North Hollywood, and Westlake Village areas.  Conservatorship Attorney Los Angeles.

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Managing Assets Before & After Incapacity? Conservatorships

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Sirkin Law Group, P.C. Los Angeles California

Conservatorship Attorney, Mina Sirkin identifies asset management methods before and after incapacity.

THE RIGHT TO MANAGE ASSETS NEEDS TO BE GIVEN TO A PERSON.

A) Before someone becomes incapacitated, right to manage assets for a person is given in four ways:

1.   You can give a power of attorney for asset management in favor of the person who will manage your assets.  This person is called an agent and your attorney in fact.

2.   You can give a special account power of attorney at a bank or financial institution with a right to manage that one specific account at that bank or financial institution.   An example of this is a securities power of attorney or trading power of attorney at a stock brokerage firm.

3.   You can put a child on your account as a joint tenant or co-tenant.  This option can create lots of problems.  It can create a rift between the child you put on your account and the rest of your children who did not get on the account.  It creates a significant risk to you in that any judgment against your child can be enforced against your joint account together.

4.  You can put your assets in a revocable trust (other than your IRA, 401k, and other tax deferred assets) and give the right of management of those assets to your trustee.   NOTE: IRA, 401K, and tax deferred assets have to stay in your own name during your lifetime, and cannot be owned by your trust, and can only be managed with a power of attorney executed before you are incapacitated.   If you become incapacitated and did not have a power of attorney, the IRA and 401k can only be managed through a conservatorship of the estate.

B)   After a person becomes incapacitated, if he/she does not have a power of attorney, then  obtaining the right to manage assets of an incapacitated person will be governed in a proceeding called a Conservatorship of the Estate, and the Conservator can access all of assets and accounts.

Mina Sirkin is a Certified Specialist Attorney in Los Angeles in Estate Planning, Probate and Trust Law.   She regularly represents families whose loved ones have become incapacitated and need management of their assets.  For appointments call: 818.340.4479 or 800.300.9977.

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