Recently, we had a husband and wife who live in Broward County call our office. They
own a condo. The Wife is in a persistent vegetative state and will be for some time. There is no durable power of attorney. The Husband wants to sell the condo. He has been advised by a title company that he will need her signature or authorization by court order after opening a guardianship.
Under these circumstances, there are no other options than opening a court-supervised guardianship. The guardianship process requires court approval for the sale and a yearly accounting of all the ward’s assets. When the condo is sold, the wife's 1/2 of the proceeds, plus ALL her other assets, will be held in a restricted account that is held under court supervision for the rest of her life.
Creating an estate plan is not difficult, and we make the process easy and affordable. The above scenario could have been easily avoided with a durable Power of Attorney. Lack of proper planning in these situations can easily result in your family being emotionally and financially drained. We believe you should strongly consider getting started on your estate plan and avoid these types of situations for yourself and your family. Schedule your consultation today.