It is the cause of tremendous stress and concern when a loved becomes unable to complete the human tasks required for ongoing, daily self-care. We all acknowledge that every loved one must be cared for and protected, both physically and financially. That is why conservatorships and guardianships are so important. They establish a system that allows you to manage the affairs of another individual who cannot manage for themselves. This article will assist with basic explanations regarding both Conservatorships and Guardianships.
Conservatorships are legally created for people who become unable, for whatever reason, to manage their financial affairs. An appointed conservator is given trustee status. This means the conservator can handle financial affairs for that person without their pre-approval. While the conservator does not have any power over personal care decisions, the conservator can make decisions regarding the redistribute of funds, investments in stocks, and purchasing property to protect the financial status of the financial assets of the individual.
Guardianships are quite different. While in a conservatorship, the appointed conservator is only responsible for the financial affairs of an individual, guardianships are for those individuals who need someone to not only manage their money, but also be responsible for their general health and well-being.
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Guardians & Conservators can be created through a will or trust document or appointed by a court of law. If you need information regarding estate planning, guardianship, or conservatorship matters to ensure the ongoing safety and well-being of an individual or loved one, contact Kayser Law Group at https://www.kayserlawgroup.com, 714-984-2001 or at the Kayser Law Group physical office located at 1407 North Batavia Street, Suite 103, Orange, CA 92867.
The attorneys and staff at Kayser Law Group will help you make informed decisions, and knowledgable plans for your loved ones.