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They serve overlapping purposes but they are not the same. The Declaration of Guardian is only in certain ways correspond to the general power of attorney. To begin with, unlike a power of attorney, a Declaration of Guardian does not go into effect as soon as it is executed. It only serves to appoint someone as a guardian for future needs, if ever. Moreover, the Declaration of Guardian takes precedence over any power of attorney, where the guardian is in charge rather than any previously appointed attorneys-in-fact.
Of course, you have to be a legal adult to serve as a guardian, which straight away excludes minors. Moreover, those believed or demonstrated to be incompetent also can be disqualified to act as a guardian.
A Declaration of Guardian does not go into effect right away. It becomes effective only if something is to happen to the appointer that renders them unable to make rational decisions for their own health, finances, or children and other minor under their custodianship.
One has to be 18 to be eligible to become a guardian. Occasionally, minors of a more advanced age can be appointed to serve as a guardian if the parents are to become debilitatingly ill mentally or physically.
The court can limit the power of a guardian. If an individual is appointed to serve as a guardian of the estate, he or she can only manage the financial matters and assets of the ward and not the person. In contrast, a guardian of the person works the other way around, without the authority to meddle with the finances of the ward.