Unfortunately, there comes a time in many people’s lives where they might need a conservator to help them when they are no longer able to take care of their financial planning, assets, and estate. In some cases, a person might have a conservator all lined up in the event that this is necessary, but in other cases, a court might need to appoint a conservator to an incapacitated person. How do you know if you need to plan for this kind of life change? What kind of conservators are there? Can a family member be a conservator?
Below, you will find a list of frequently asked questions to help you become more familiar with the conservatorship process, as well as contact information for a law firm that can help answer any additional questions you might have.
What Is a Conservator?
A conservator is typically someone appointed by a court to assist a person who is mentally or physically incapacitated. When a person is no longer physically or mentally able to make important decisions regarding their finances — whether it involves gifting money, buying or selling real estate, and even dealing with insurance — a court appoints a conservator to make decisions on behalf of the incapacitated person. They will typically do their best to make sure it aligns with the decisions the conservatee would have made.
Isn’t That the Same Thing As a Guardian?
A conservator and a guardian are not the same things, though one person could take on the responsibility of both. A guardian will care for the person’s “self,” with limited ability to take care of their finances.
Why Would a Person Need a Conservator?
A person needs a conservator when they can no longer take care of their finances due to some form of incapacitation. This could be because the person was in a car accident that caused them to have a brain injury where they are no longer able to communicate properly with people, or perhaps a person has Alzheimer’s or dementia and they are unable to take care of their finances the way they used to.
Are There Different Types Of Conservators?
Depending on the level of care and the needs of the conservatee, there are different kinds of conservatorships. For example:
- Lanterman-Petris-Short Conservatorships. These types of conservatorships are for adults that need an incredible amount of care due to a severe mental illness. The people who need these types of conservators are usually in a restricted living situation and have to undergo an extensive amount of mental health rehabilitation.
- Probate Conservatorships. Probate conservators are the most common type of conservators used, and they help people with limited mental capacity who cannot take care of their finances typically due to diseases related to aging or younger adults who have gotten into very bad accidents.
Do You Need More Information?
Finding the proper care for a loved one or even for yourself when you need financial help after an illness or an injury can be difficult. If you or a loved one is struggling in this situation and you need the help of a conservator, or if you would like to learn more about the conservatorship process, contact a conservatorships lawyer Sacramento, CA from a law firm like Yee Law Group, PC today to help put your mind at ease.