Helping Your Loved Ones in Time of Incapacity
What is a Conservatorship?
A conservatorship is a legal process in which the probate court appoints someone (the conservator) to manage your property and affairs during your disability. A conservatorship is sometimes called a “Living Probate”.
What is a Guardianship?
A guardianship is a legal process in which the probate court appoints someone (the guardian) to take care of your personal needs. The Guardian will make decisions for you such as where you will live, who can visit you, what medications you will take, and who is allowed to help you.
Conservatorship and guardianship can be great assets to vulnerable adults and protect them from unscrupulous persons. With a conservatorship or guardianship in place, it is clear who has the authority and who does not. You can nominate a potential conservator and guardian in your estate planning documents and the Court will give priority to those persons.
All costs associated with your conservatorship or guardianship, such as attorney fees, conservatorship fees, and guardians fees, court costs, and bond premiums are usually paid from your assets. The costs of conservatorships and guardianships are unpredictable and can easily add up, especially if the appointment continues for years.
A conservatorship or guardianship lasts the length of your disability. If you are disabled for years, your “living probate” lasts for years.
If you have not nominated possible guardians or conservators in your estate planning documents, the Court could appoint someone whom you would never even want to handle your affairs, even a stranger.
Conservatorships and Guardianships are public proceedings, and your financial affairs are open to public scrutiny.
If you or someone you know has a need for guardianship or conservatorship, give us a call today.