As Texas residents know, when a family member is very ill, this might lead to family conflicts over finances and related matters. For this reason, in the event of a health care emergency, it is very important to make an adequate estate plan.
In recent news, lawyers for Zsa Zsa Gabor’s daughter and husband are scheduled to appear before a judge who is considering whether the former actress, who is currently in poor health, needs oversight of her finances and medical care.
In some states, conservators are appointed by courts after a hearing has determined that a person is incompetent to handle his own financial or medical affairs. In Texas, you may have heard of the terms financial or health care “power of attorney.” Conservators perform similar responsibilities. However, conservators are appointed.
The attorneys for the two sides will argue their case before a judge. Specifically, the daughter petitioned to be named as her mother’s conservator; however, Gabor’s husband has opposed this request.
According to the daughter, the husband of the actress is allegedly mismanaging her finances. On the other hand, he claims that he is providing adequate oversight–medically and financially.
While the daughter is seeking access to medical and financial information, she would be open to having an independent third-party act as her mother’s conservator.
Sources report that the former actress will not be present at the hearing. Instead, her doctor recommends that she remains in her bed, which is a familiar and comfortable environment.
Ultimately, this case is a reminder that estate planning is very important. Before something tragic happens to your health, you may want to make arrangements for the oversight of your health or estate. After all, your assets should be protected by someone that you trust.
Source: Yahoo! News, “Judge to consider oversight of Zsa Zsa Gabor,” Anthony McCartney, May 2, 2012