Conservatorship

Similar to a guardian, a conservator is appointed when an individual lacks the legal capacity to take care of themselves and make necessary decisions regarding their financial affairs management. The same person may serve as both the guardian and conservator, or a different individual can be appointed for each role. A conservator may be needed if an individual is no longer able to handle their own financial affairs responsibly. Signs that your loved one may require a conservator include forgetting to pay bills, making unexplained financial decisions, or falling victim to financial scams or identity theft. A conservator takes charge of an individual's financial affairs, such as paying bills and making informed financial decisions on their behalf. They possess the authority to manage and make payments from all assets held on behalf of the protected individual.

A petition for the appointment of a conservator may be initiated by an individual seeking protection, a person with an interest in that individual's welfare or estate, or by someone adversely affected by ineffective financial affairs management. A conservator can take the form of an individual, corporation, or professional conservator. The petition must be submitted to the probate court in the county where the individual resides. The court will schedule a hearing to review the evidence and determine if there is a need for a conservator, particularly in cases where the individual may lack legal capacity. In both guardianship and conservatorship cases, those acting in these roles must prioritize the well-being and best interests of the protected person. Their responsibilities will continue until the court officially terminates them, and they are required to file annual paperwork to keep the court and other interested parties informed.