Guardianships are established to care for a minor or incompetent person’s well-being. A Guardian of the Person is in charge of the care of their physical well-being, while a Conservator is in charge of the care of a minor or incompetent person’s financial well-being.
If you are judged to be incapable of handling your own affairs, a court will name an individual or institution to manage your property, unless you name someone while you are still capable by power of attorney.
Powers of Attorney
A power of attorney is a legal document authorizing one individual to act as the agent (“attorney”) for another (“principal”). If the attorney is authorized to act on behalf of another for all matters, he or she has a general power of attorney. Authority to act solely regarding specific situations is a special or limited power of attorney. If the authority granted extends beyond the disability of the principal, the attorney has a durable power of attorney.