Will and Estate Planing - Conservatorships
Definition:
A conservatorship is the right given to a person for the purpose
of managing the property and finances of a person who is unable or incapacitated
to carry out those operations for him or herself. This process, also known
as adult guardianship, is a legal process by which someone
is appointed by a Court to be the person primarily responsible for making
financial and medical decisions on behalf of the incapacitated person. The
appointed person (conservator) takes care of the needs of the incapacitated
person (conservatee).
Consequences of Conservatorships:
LPS and Probate conservatorships are the two types of conservatorships. An LPS conservatorship is established by a treatment facility. A Probate Conservatorship is initiated by a close family member or friend of the disabled person. If the disabled person has not or cannot choose a conservator, that person's spouse, child, parent, sibling or close friend can volunteer to be the conservator. If no such person is willing to do so, there are professional conservators who could be retained or a public guardian may be the conservator. After the conservator has been assigned, the next step is the court process. Court investigators will review documents such as medical reports and other declarations. Conservatorships are terminated upon the conservatee's death or by court order. Sometimes, the court will appoint the person is charge of financial matters differs from the person who is in charge of making medical and personal decisions.
Conservatorships are usually set up for people who suffer major medical ailments, are in comas, or have other serious injuries and illnesses. Appointed conservators are responsible for managing finances, protecting the conservatee's assets, making an inventory of conservatee's assets, ensuring flow of benefits and income, filling tax returns and other accounts.
What a Lawyer can do for you:
Experienced attorneys can help determine if a conservatorship is the right option for your family or for your family member. Many professionals and business representatives may become involved in the Conservatorship planning process. The State Bar recommends that people seek advice from a qualified wills and estate lawyer when handling such issues.Lawyer Referral Service:
If you are considering going establish or need to change conservatorship, call us and we will refer you to the right conservatorship lawyer in your area.
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