What is a living probate?
A living probate is a legal process that allows a person to manage their finances, health care, and other decisions even during their lifetime. This type of probate is used in Virginia to provide for the needs of elderly persons or incapacitated persons who may be unable to handle their own affairs. A living probate can take one of two forms: a conservatorship or a guardianship. In a conservatorship, a court appoints someone to manage a person’s finances and other affairs if the court determines that the person is unable to do so. The conservator is then responsible for managing the person’s assets, paying their bills, making investments, or other activities that require financial decision making. In a guardianship, the court appoints someone to make medical decisions for the person in question if they are unable to do so themselves. This includes decisions concerning medical care, living arrangements, or any other matters that may require medical decisions. The guardian is responsible for ensuring that the person in question is properly cared for and is not subject to abuse or neglect. Living probate is an important tool in elder law in Virginia, as it helps ensure that elderly or incapacitated persons are properly cared for and their decisions respected. Though often overseen by the court, the person in question is often granted considerable rights and ability to make decisions regarding their own affairs.
Related FAQs
What is a special needs trust and who is eligible to set one up?What is a community spouse resource allowance?
What is the difference between a trust and a will?
What happens if I do not create a power of attorney?
How can I best protect my elder parent’s financial assets?
How does elder abuse become a civil or criminal case?
What is the best way to protect my elderly parent’s assets?
What are the legal rights of the elderly?
How do I choose an elder law attorney?
What is a pour-over will?
Related Blog Posts
Essential Questions to Ask about Elder Law - July 31, 2023Frequently Overlooked Considerations in Elder Law - August 7, 2023
Financial Benefits of Elder Law Planning - August 14, 2023
Navigating the Complexity of Long-Term Care Planning with Elder Law - August 21, 2023
The Cost of Not Planning for Elder Law - August 28, 2023