What is a conservatorship?
Conservatorship is a legal process that appoints a representative to be legally responsible for making decisions regarding the personal and/or financial needs of an individual who is declared to lack the capacity to properly provide for those needs. A conservator is answerable to the Superior Court for the manner in which he or she administers the conservatorship.
A conservatorship is a similar court protective arrangement established by the court when an individual is declared mentally incapacitated. The conservator is appointed to manage the estate and the financial affairs of the incapacitated person. Unlike the guardian, the conservator is usually less involved in managing the person’s support, care, health, safety and rehabilitation.
A conservatorship is a court supervised procedure by which an agent is appointed to manage your assets and/or personal affairs, including medical care, when you are not able to do so yourself. Your court appointed agent usually must post a bond, paid out of your estate, must file annual accountings with the court and, usually, must also seek court permission before making major decisions about your property. This procedure is expensive and time consuming, often requiring court hearings and the assistance of an attorney. In addition, the individual appointed as Conservator is entitled to reimbursement for necessary expenses and to reasonable compensation for his or her services, all paid from your estate. Because the court is involved, a conservatorship is a matter of public record (including the nature of your estate and your physical and mental condition). A better approach is to have a Revocable Living Trust since your successor Trustee can manage your assets and often entire avoid t
