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Helping Clients With Conservatorship and Guardianship Matters
When a family member is no longer able to care for himself or herself, it can be a difficult decision determining how to move forward. What would that loved one want? Is a conservatorship the right step? These are tough questions that our dedicated estate planning attorneys can help you and your family get through.
What Is A Conservatorship?
A conservatorship is a court-ordered legal procedure where a person is determined to be incapacitated, whether mentally, physically or both. Once incapacitation is deemed, an individual is then designated as the “conservator.” The conservator is given certain authority (depending on the specific court order) to handle the incapacitated person’s affairs such as financial decisions or their well-being.
There are two main types of conservatorships:
- Conservator of the person: This type of conservatorship is for the overall well-being of the individual. Decisions about such essentials as food, clothing and living arrangements are all responsibilities the conservator must maintain.
- Conservator of the estate: This type of conservatorship is for handling the finances of the individual. Someone may be able to care of his or her own physical needs, but require help handling financial decisions.
Some individuals require both types of conservatorships. There are other situations, such as when an individual has special needs, in which a limited conservatorship may be more appropriate so that he or she can still maintain independence.
At the Brentwood law firm of Russ Cook & Associates, PC, our seasoned estate planning lawyers can help you and your family choose the conservatorship that fits a loved one’s specific needs. We have handled some of the most complex estate planning cases. No case is too complicated for us to take on.
What Is A Guardianship?
A guardianship is a court-ordered legal procedure wherein a parent, family member, friend, or other person is appointed by the court to act in the best interests of a minor child. This is often required when the child’s parents have died or are incapable of providing proper care for the minor child, or a minor child has received or inherited valuable assets or a large sum of money. Once appointed, the guardian is given certain authority (depending on the specific court order) to handle the minor person’s affairs such as financial decisions or their well-being.
Like with conservatorships, there are two main types of guardianships: Guardian of the person and guardian of the estate. As noted above, a common need for setting up a guardianship occurs when a minor inherits or receives a valuable asset in their own name and a court requires a guardian of the estate be appointed to manage the asset on behalf of the minor.
Reach Out To Us Today
Questions about how we can help you? We invite you to please reach out to us today for more information. We are in Brentwood, Tennessee; call us at 615-200-9117. You may also contact us online to schedule a consultation, make a referral or book a seminar.