Mark Reckman - Do I Need to File a Guardianship When My Disabled Child Turns 18?

Do I Need to File a Guardianship When My Disabled Child Turns 18?  Parents of disabled children are often encouraged to consider a guardianship by a number of sources – school counselors, case managers, medical advisors, etc. The truth is that guardianships are not always needed.I.         What is a Guardianship?   It is a court proceeding in which you ask the court to declare your child to be incompetent. A guardian takes over. Your child is stripped of the legal capacity to act for him or herself.II.        There are Different Kinds of Guardianships.   Primarily two kinds:  1.   Guardian of the Estate – Money management. If there is no money in the child’s name, no guardian of the estate is needed.2.   Guardian of the Person – Health care and daily living.  III.        Advantages of Guardianship.  1.   It puts one person in full charge of all decisions.  2.   It gives you authority to enforce your decisions.  3.   It protects ward’s money/property.  4.   It protects the ward and the guardian.IV.        Disadvantages of a Guardianship.  1.   Declaring your child incompetent can be demoralizing.  2.   It costs $3,000 - $5,000 up front, and $1,500 to $2,500 every year – plus a bond in some cases. 3.   You need court approval to spend money (Guardianships of the Estate, only). That costs extra. 4.   You must take a lengthy class.  5.   You must file reports.  V.        Alternatives – Only Applies to the Cooperative and Highly Functional Disabled Child.1.   Power of Attorney.  2.   Living Will.  3.   Power of Attorney for Health Care.  4.   Joint Financial Accounts.  5.   STABLE Account.  6.   Trusts.  VI.        So, do I need to file a guardianship at age 18? Not necessarily – if your child is cooperative and high functioning, try one or more less intrusive options first. You can always “default” to a guardianship, if needed.