Who is a Conservator of Person or Estate? Is There a Difference? Should I have one?
Worried about who will look after you or manage your finances if you are incapacitated by an accident, illness or deemed incapable in your senior years? Plan ahead and appoint a conservator to oversee your affairs. This individual will have the legal right to act on your behalf. In this blog post, we have provided an overview of what creating a conservatorship means and the differences between a Conservator of Person and a Conservator of Estate.
Who is a Conservator of Person?
A Conservator of Person is an individual appointed by the court to manage the daily needs of a minor or a senior incapacitated by an accident or illness. Selecting the right conservator to act on your behalf is critical. You want to be sure that the individual is fully aware of your needs and requirements. They must also know you well enough to act as you would when making decisions. Should a situation occur before you have named a Conservator of Person, the court will appoint a someone to take this responsibility.
Who is a Conservator of Estate?
A Conservator of Estate, on the other hand, has the legal right to make financial decisions for the conserved person when they are incapable of doing so.
Differences between a Senior Conservator of Person and Estate
|Conservator of Person
|Conservator of Estate
|Responsible for decisions regarding your day-to-day life such as:
|Responsible for managing your financial affairs, including:
Depending on the situation, it may sometimes be simpler to name one person to act as both types of conservator.
What Happens to a Conservatorship When the Protected Person Dies?
In the event of the death of a protected person, the conservatorship terminates providing that a will is in place, an executor will proceed through probate requirements.
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