What Is a Conservatorship? A Guide to Understanding a Court-Ordered Guardianship
When a person is not able to make decisions or manage their own financial affairs due to a physical or mental disability, a guardian or conservator may be appointed by a court in order to provide guidance, structure and protection. A conservatorship, or what is commonly referred to as guardianship, is a legal arrangement wherein an individual (the conservator) is appointed by a court in order to manage the financial affairs of an incapacitated person (the conservatee).
What Does A Conservator Do?
The basic responsibility of a conservator is to protect the conservatee from financial exploitation, as well as to manage their financial affairs and assets. This includes conservators keeping accurate records, making decisions on their behalf, filing taxes, and ensuring any medically necessary care is provided. Conservators also may be responsible for overseeing the conservatee’s personal care, such as medical and dental care, arranging for a place to stay, and providing any necessary personal care.
How Is A Conservator Appointed?
The process for becoming a conservator of an incapacitated person can vary from state to state, but it typically requires filing paperwork with the court and the consent of the conservatee or his/her guardian. Once the court grants the petition for conservatorship, the conservator is appointed and must make regular court reports to ensure the conservator’s actions stay within the parameters of the court-ordered agreement.
What Are the Benefits of Having a Conservator?
Having a conservator in place can be beneficial in a variety of ways. Conservators can help ensure that the conservatee’s financial resources are managed properly, helping to ensure that the assets are maximized while not creating an undue financial burden. A conservator may also be called upon to make key decisions regarding medical care, housing, and other important life matters. Lastly, having a conservator can provide peace of mind to the conservatee and their loved ones knowing that a trusted individual is watching out for them.
Conclusion
Although it is a serious legal arrangement, a conservatorship can be beneficial for both the conservatee and their loved ones. It can provide protection from financial exploitation, help manage their finances and assets, and ensure that important decisions are being made in the best interests of the conservatee. If you are considering the option of a conservatorship for an incapacitated individual, it is important to understand what is involved and consult with an experienced attorney who can help guide you through the process.