Understanding Conservatorships: Protect Your Future

Understanding conservatorships is important, as they essentially acts as a guardianship for an incapacitated adult. Therefore, allowing a conservator to actively manage the affairs of an individual who cannot do so themselves. Understanding conservatorships is crucial to planning for your future.

Types of Conservatorships

Conservatorships can serve different purposes depending on the needs of the individual. They may be:

• For the Estate: This gives the conservator authority to manage the person’s finances.
• For the Person: This allows the conservator to handle day-to-day life decisions, such as medical care or living arrangements.
• For Both the Estate and the Person: In some cases, a conservator may oversee both financial matters and personal decisions.

How Conservatorships Are Created

Courts create conservatorships through a formal order. They first determine if the individual is incapacitated and unable to manage their own affairs. This legal process can involve significant time, effort, and expense.

How to Avoid a Conservatorship

To avoid the need for a conservatorship, ensure that you have a valid power of attorney (POA) in place. A POA allows you to designate an agent who can manage your finances, make decisions on your behalf, and handle your affairs if you become incapacitated.

Planning ahead with a power of attorney provides a simpler and less costly alternative to a court-ordered conservatorship. It gives you control over who manages your estate and personal matters, offering peace of mind for you and your loved ones.

Legal Solutions You Can Trust

Olivia Wann Law provides trusted legal services across a variety of areas, ensuring personalized solutions for every client. We support dental professionals in starting or acquiring practices, assist entrepreneurs in building sustainable businesses, and guide families through estate planning and elder law to secure peace of mind. Our probate services simplify the process of administering estates, and our real estate expertise covers everything from family farms to commercial properties. At Olivia Wann Law, we are committed to helping you navigate your legal needs with confidence and care.