In the same way that Guardianships allow you to obtain the Court’s authority to make the decisions necessary to ensure the physical needs of a loved one are met when that loved one can no longer make those decisions for him- or herself, Conservatorships allow you to obtain the Court’s authority to make financial decisions necessary to ensure an incapacitated loved one’s financial well-being.
You may find that someone you love, often a parent or grandparent, who may have been independent at one point, no longer understands his or her financial obligations. Bills aren’t paid, assets aren’t managed, and your loved one may not even recognize his or her inability to handle his or her affairs.
When this happens, if your incapacitated loved one has not executed a Durable Power of Attorney, it may be that the only way that you can obtain the authority to handle your loved one’s affairs is by petitioning the Court to appoint you as that person’s Conservator. A Conservator is person whom the court appoints to manage an incapacitated person’s assets – paying bills, receiving income, etc. – taking necessary financial action to manage the assets in the best interests of the incapacitated person. Once appointed Conservator, you likely will have filing requirements with the Commissioner of Accounts office.
We are available to assist you as you seek to become Conservator of your loved one’s assets, or as you do what is required to fulfill your obligations in that role. Please contact us to find out how we can help you and your family as you take the steps necessary to protect someone who can no longer protect him- or herself.