GUARDIANSHIPS & CONSERVATORSHIPS
A guardianship is a legal procedure to appoint someone to be responsible for caring for someone who is unable to care for themselves.
Guardianships are highly technical with regard to the process of becoming appointed. It includes pre-appointment training, a report from a court-appointed investigator, and the appointment of an attorney to represent the best interests of the incapacited person.
Once appointed, the guardian is responsible to file annual reports with the court.
If you feel that someone is in need of a guardianship. contact me to discuss further.
Whether your plan includes a revocable living trust or a Last Will and Testament, if a financial power of attorney, health care power of attorney, and a mental health power of attorney are created, the likelihood of needing a guardianship or a conservatorship is drastically reduced.
A conservator is appointed to take care of the financial affairs of someone who is unable to care for themselves.
The procedure for appointment is the same as that for a Guardian, and they are frequently combined into a single proceeding.
As a general rule, a Conservatorship may be appropriate when the assets of the incapacitated person exceed $10,000, including the income that person receives on an annual basis.
In most cases, a Conservator must file an annual accounting with the court which accounts for all of the income and expenditures made on behalf of the incapacitated person. These reports are reviewed meticulously by Court Accountants and must be supported by accurate records.
Contact me to discuss Guardianships and Conservatorships.