What Are The Disadvantages And Advantages of a Guardianship?

Video Transcription:

A guardianship is something really to be avoided if you at all possibly can. A large part of estate planning is done to avoid guardianship. Why? A guardianship is very invasive. It’s extremely expensive and time-consuming, and it’s emotionally very disturbing because when you think about it, what the guardianship is, is it’s family members or loved ones going to court to remove rights from an individual, from a loved one or a family member. It can be a humiliating process. Again, it’s to be avoided if at all possible.
The benefits of a guardianship are you do have a judge that’s overseeing every penny spent in the guardianship, and the person-appointed guardian must account to the court for every penny in and every penny out, which again, that accounting and the procedure to get court approval to expend funds, is a very expensive one. There are less burdensome and cumbersome ways to accomplish the same checks and balances that a guardianship has, if you’ve done a proper estate plan.