ConservatorshipSimilar to a Guardianship, a Conservatorship is appointed by the court. The appointed Conservator has powers and duties over the protected person's estate to manage and preserve the assets. A Conservator is appointed when the court has determined that the protected person is unable to manage their financial affairs due to a medical decision and when there are no less restrictive alternatives.
The court may grant all or some of the Powers of the Person which are:
In addition, the conservator may petition the court for approval to sell real estate, institute a law suit or facilitate an estate plan for the protected person.
A Conservatorship is under court supervision and the appointed Conservator is required to file an inventory of the protected person assets. Then each year the Conservator is required to file an accounting with the court which reflects all income and expenses of the protected person. A court hearing is required the first year and every three years thereafter.
Less restrictive alternatives to Conservatorship are:
Guardianship / Conservatorship / Trustee / Power-of-Attorney
Health Care Directive / Medical Assistance / Executor/Personal Representative
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