What alternative can be considered for clients with decisional capacity instead of a guardian?

Trusts and joint accounts offer flexible alternatives for clients who have decisional capacity, allowing them to manage their assets effectively while avoiding the complexities and potential drawbacks associated with guardianship.

Creating a trust enables individuals to dictate how their assets will be managed and distributed both during their lifetime and after their death, ensuring that their wishes are honored. Joint accounts, on the other hand, facilitate shared financial management while preserving the individual’s ability to retain control over their own finances.

This approach fosters autonomy, as clients can actively participate in their financial decisions, rather than having a guardian impose decisions on them. It emphasizes personal empowerment and self-determination, which are important principles in fiduciary practices, especially for clients who are capable of making their own decisions.

Other options, such as full authority being granted to family members or the adoption of guardianship for all clients, may undermine the individual’s capacity and autonomy, leading to increased dependency on others for decision-making. Trusts and joint accounts strike a balance between protection and independence.