conservatorships

what is a conservatorship?

Sometimes a person is unable to manage their own finances, due to the fact that they are a minor, are disabled, or mentally or physically ill, or have substance abuse issues. In some cases, it’s necessary for the court to appoint a person to manage the financially incapable person’s finances. The person appointed to manage the finances is called a conservator. The court proceeding is called a conservatorship.

how does the conservatorship process work?

(1) A conservatorship begins with the filing of a legal document called a petition with the court. The person filing the petition is called the petitioner. The person in need of the conservatorship is called the respondent. In the petition, the petitioner asks the court to appoint a conservator for the person who is financially incapable. The proposed conservator can be the same person as the petitioner or a different person. Sometimes the petitioner will ask for a professional fiduciary to be appointed. The petition must set out information about the financially incapable person, the proposed conservator, and information about the respondent’s finances. The petition must also explain to the court why a conservatorship is necessary and why less restrictive alternatives won’t work.

(2) The petition must be served on the respondent. The petition must also be mailed to certain people and sometimes government agencies. These people are called the interested persons. Who the interested persons are depends on the facts of each particular case.

(3) The respondent and the interested persons have a period of time to object to the conservatorship. They can object to the choice of proposed conservator. They can also object to the need for the conservatorship.

(4) If there are no objections, the court will decide, based on the petition, if a conservatorship is necessary and the proposed conservator is appropriate.

If there are objections, the court will set a hearing date. At the hearing, the petitioner and the respondent will each get to call witnesses and make their arguments. The judge will decide whether a conservator is necessary and if the proposed conservator can be appointed.

In either circumstance - no objections or objections - if the court determines a conservatorship is necessary and the proposed conservator is appropriate, the court will sign a limited judgment, appointing a conservator. If a conservator is appointed, the respondent is no longer referred to as the respondent and is now called the protected person.

(5) After a conservator is appointed, the court will usually require the conservator to file a bond with the court. A bond is like an insurance policy. If the conservator mismanages or steals the protected person’s money, the bonding company will repay the money.

(6) After the conservator files a bond, the court will issue letters of conservatorship. The letters of conservatorship give the conservator legal authority to manage the protected person’s finances.

(7) In some counties, after being appointed, the conservator must take a fiduciary education class within a certain time of being appointed.

(8) After being appointed, the conservator must take control of the protected person’s assets. Within 90 days of being appointed, the conservator must file an inventory with the court, listing the protected person’s assets and income and their values.

(9) Each year, within 60 days of the anniversary of being appointed, the conservator must file an annual accounting with the court, explaining any changes in the protected person’s assets and accounting for all receipts and distributions from the conservatorship estate.

how can gapinski law, llc help me?

I can help you evaluate whether a conservatorship is necessary for a loved one or if there are other, less restrictive alternatives that would protect the person’s assets. If a conservatorship is needed, I can prepare and file documents to initiate the conservatorship and for the ongoing conservatorship. If the respondent objects to the conservatorship, I can represent you at the hearing.

Attorney fees can be paid from the protected person’s assets and are subject to court approval.