Conservatorship with LA Probate Law
A conservator is appointed through a court supervised hearing to manage financial or personal affairs for someone who is unable to do so on their own. There are 2 types of conservators: The Conservator of the Estate and the Conservator of the Person. The Conservator of the Estate deals with the financial aspects. The Conservator of the Person deals with decisions on behalf of the conservatee. As your parents age, many concerns and needs will arise. One of them being whether or not a conservatorship is appropriate. A conservatorship, also referred to as adult guardianship, is the process of having someone make the necessary medical and financial decisions for your loved one. There are many different things that go into qualifying the need for a conservatorship and establishing an appropriate conservator. A conservatorship is a court proceeding where a court appoints someone to serve as the “manager” of the incapacitated person. A manager may be appointed after a screening process that includes review by a court investigator and a court appointed attorney says LA Probate Law. Depending on the scope of the court’s order, the conservator may be able to determine such things as where the elderly person lives, how his money is spent and what medical treatment to authorize.
The conservator of the person handles the medical and personal decisions, while the conservator of the estate handles the finances. It is ideal for the conservator of the person to be a relative, and the conservator of the estate should have experience of handled finances, especially if the estate in question is immense or complex. In some cases both aspects may be handled by one person. The probate court can also appoint neighbors, friends or even a private professional to serve in the role. The probate court is also empowered to appoint the county through an agency known as the public guardian. To be a conservator, an individual must be willing to accept the fiduciary role of managing the incompetent person’s affairs under the supervision of the probate court. To be a conservator, you must be over the age of 18 and capable of obtaining a bond to insure performance of your duties. The court will examine any applicant to determine whether there are any past problems or conflicts of interest that would serve to disqualify an applicant. In appointing a conservator, the probate court will first follow the written directions of the Conservatee explains LA Probate Law. In the absence of written directions, the probate court will give priority to family members.
Conservatorships are for people who cannot manage their financial assets for whatever reason. If your loved one is not able to manage their own financial affairs, you can be appointed as their conservator. As a conservator, you will be given trustee status, which means you can handle financial affairs for them without their pre-approval. While you will not have any power over personal care decisions, you can choose to redistribute funds, invest in stocks, and even purchase property in order to protect the financial status of the afore mentioned individual.The conservatorship is started by an interested party filing a petition with the probate court seeking the appointment of a conservator. The screening process requires notice to the incapacitated person, who must be represented by court-appointed counsel. Frequently the incapacitated person is evaluated by a medical professional to determine whether the potential conservatee’s level of mental impairment, if any. If the incapacitated person objects, he has the right to a jury trial before being placed under a conservatorship. If a conservatorship is necessary and warranted, the court will issue an order appointing an individual conservator. The appointed conservator then obtains Letters of Conservatorship which gives the conservator the legal authority to manage the conservatee’s affairs. The appointment process usually takes more than a month and sometimes longer explains LA Probate Law.
Protection of Conservatee
The conservatee is not represented by legal counsel, and the law does not impose a duty on any family members to investigate possible inaccuracies contained in the conservator’s accounting to the court. The court does utilize probate “examiners” who review the conservator’s accounting, but the examiner’s role is limited to checking on, for example, whether the required accounting information is set forth in the proper format required of the court. If no one close to Conservatee is considered neutral, the probate court may appoint a third-party such as the County (through an agency known as the Public Guardian) or a private professional conservator. You can obtain information and forms to file a conservatorship through the probate clerk. A court hearing will be scheduled to determine if a conservatorship is granted. The local senior advocacy group in your town or city should be able to help you or your loved one file the appropriate forms.
A revocable trust is also part of the available alternatives to a conservatorship. The elder’s assets that are owned by the trust can be managed by a successor trustee – a person appointed by the elder to prudently manage trust assets if the elder becomes mentally or physically incapacitated. Priority will generally be given to the conservatee’s written instructions or family members. Sometimes, however, there are circumstances where appointing a designated representative or family member is going to create additional problems. In those circumstances, the probate courts frequently appoint a neutral party to serve as the conservator expresses LA Probate Law.
Conservatorship with LA Probate Law
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
- What are the Advantages and Disadvantages of a Living Trust? - January 15, 2019
- Why Avoid Probate? - January 10, 2019
- When Do I Need a Tax ID Number for a Trust? - January 9, 2019