Power of Attorney vs Conservatorship
A detailed comparison to help you choose the right option.
Power of Attorney
A voluntary legal document where a competent person grants another person authority to act on their behalf in legal and financial matters.
Advantages
- Voluntary and private process
- No court involvement required
- Can be very specific or broad
- Revocable by the principal
Disadvantages
- Requires mental competence to create
- May not be accepted by all institutions
- Can be revoked or challenged
- Limited oversight of the agent
Conservatorship
A court-ordered legal arrangement where a judge appoints someone to manage the affairs of a person who cannot manage their own affairs.
Advantages
- Court supervision and oversight
- Doesn't require consent from incapacitated person
- Broad legal authority
- Clear legal standing
Disadvantages
- Expensive court process
- Public proceedings
- Ongoing court supervision
- Difficult to terminate
Key Differences
- 1Voluntariness: POA is voluntary; conservatorship is court-imposed
- 2Privacy: POA is private; conservatorship involves public court records
- 3Cost: POA is inexpensive; conservatorship involves ongoing legal costs
- 4Oversight: POA has minimal oversight; conservatorship has court supervision
Which Should You Choose?
Use a power of attorney for estate planning while competent — it's private, inexpensive, and gives you control over who manages your affairs. Conservatorship becomes necessary only when someone is already incapacitated and didn't create a POA, or when the POA is inadequate or being abused.
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