What is conservatorship?
If you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.
The conservator has to make periodic reports to the court and petition the court for additional authority under certain circumstances. Typically, the conservator may be paid for services rendered on your behalf and there will be attorney fees as well. In addition, the court will often require your conservator to purchase a surety bond that is a type of insurance policy, to protect the conservatorship estate. Your estate pays the costs and expenses of a conservatorship.
Other Guardianship FAQs
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Are conservators paid?
Typically a conservatorship allows the conservator to be paid for his or her services. The conservator is also entitled to attorney fees to seek legal advice. In … more -
How long does conservatorship last?
Jurisdiction of the court in a conservatorship continues while the incapacity exists but ends at death. The conservator has to make periodic reports to the court and … more -
My close relative is losing it and doing bizarre things. What can I do?
If a person has truly lost mental competence, and is unable to exercise rational control over his or her property, the courts may appoint a conservator in a … more -
What are some of the various types of guardians?
There are different types of guardians. Testamentary guardians are guardians appointed by a person`s deed or will to be a guardian over a minor or disabled person. … more
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