A durable power of attorney for property is a legal document in which you (the “principal”) authorize another person (your “agent”) to manage your financial affairs. A properly drafted durable power of attorney, signed while you have capacity, gives your agent immediate and broad authority to act on your behalf the moment it is needed.

A healthcare power of attorney (sometimes called a healthcare proxy or medical power of attorney) designates someone to make medical decisions for you when you cannot make them yourself. Combined with a living will or advance directive, it ensures that your wishes about end-of-life care, hospitalization, and treatment are honored by the person you have chosen.

Both of these documents are necessary to qualify a loved one for Medicaid.  If not in place, a Guardianship and Conservatorship will be necessary.

The Alternative to Powers of Attorney: Court-Ordered Guardianship and Conservatorship

If you become incapacitated without a durable power of attorney or healthcare power of attorney in place, your family has no legal authority to act on your behalf. Banks will freeze accounts. Doctors may be unable to share information. Bills go unpaid. To gain legal authority, a family member must petition the Wyoming court for a formal guardianship (authority over personal and healthcare decisions) and conservatorship (authority over finances).

The process is neither simple nor cheap. It typically requires hiring an attorney, filing a formal petition with the district court, having a court-appointed visitor interview the incapacitated person, obtaining medical certifications, attending a court hearing, and filing annual accountings with the court for as long as the conservatorship remains in place. From start to finish, the process can take three to six months and cost $3,000 to $15,000 or more. And once established, the conservatorship requires ongoing court supervision and reporting every single year.

We Are Here to Help

The attorneys at Yonkee & Toner have guided Wyoming families and clients through the full range of estate and incapacity planning. We understand the urgency, the complexity, and the deeply personal nature of this planning — and we are experienced in crafting plans that protect clients and family members who love them. Contact our office today to schedule a consultation. The conversation you have now may be the most important one your family ever has.