Will - Updating Will - Invalid or No Will - Power of Attorney - Personal Directive
Concerns with Court-Appointed TRUSTEE vs POWER of ATTORNEY
Legally protect your financial and property interests while still alive, yet incapable of acting for yourself due to personal incapacity.
To schedule an appointment, contact our law firm at 403-400-4092 or Chris@NeufeldLegal.com
Without a power of attorney, should you become incapacitated, or otherwise be unable to make decisions for yourself, you could very likely be conferring power for financial and property-related matters to a court-appointed trustee. This in turn presents a number of challenges that you should be aware of, including:
A. Loss of Control Over Who is Appointed
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With a Power of Attorney, you choose a trusted person (your agent/attorney-in-fact). Without one, the court decides who will serve. This could be a professional fiduciary or a family member you wouldn't have chosen, and who may not share your values or have the necessary skills.
B. Increased Cost and Time
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The court process for appointing a trustee is typically expensive and time-consuming, involving lawyer's fees, court filing fees, and administrative costs. This can quickly deplete your assets. A Power of Attorney, when drafted ahead of time, generally avoids court involvement and its associated costs.
C. Lack of Privacy (Public Record)
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Trusteeship proceedings are public court records. Your personal and financial affairs, including details about your incapacity, become open to public scrutiny.
D. Ongoing Court Supervision
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A court-appointed trustee is subject to ongoing court reporting and supervision. They must file periodic accountings and reports, which adds to the administrative burden, cost, and complexity. An agent under a Power of Attorney generally operates privately and only reports to the principal (you) or as directed in the document.
E. Potential for Family Disputes
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If family members disagree on who should be appointed or how your affairs should be managed, the court process can become an adversarial battle, escalating family tension and legal costs.
F. Delays in Decision Making
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The time it takes to petition the court and have a trustee appointed can lead to delays in paying bills, managing investments, or making critical medical decisions, causing financial or health-related problems.
G. Limited Scope (Guardianship vs. Trusteeship)
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A court-appointed trustee typically manages your financial estate. If you become incapacitated, you would also likely need a court-appointed guardian to make decisions about your personal care, medical treatment, and living arrangements, adding another layer of complexity and potential control.
Whether you are looking to have a power of attorney for finances created or require legal representation in the implementation of an incapacitated person’s power of attorney, contact our law firm today at 403-400-4092 or via email at Chris@NeufeldLegal.com to schedule a confidential initial consultation.
IMPORTANT NOTE: This website is designed for general informational purposes. The site is not designed to answer specific questions about your individual situation or entitlement. Do not rely upon the information provided on this website as legal advice in respect of your individual situation nor use it as substitute for individual legal advice. If you want specific legal advice, you need to engage a lawyer under established legal engagement procedures that have been specifically agreed to by that lawyer.
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