Conservatorship refers to an arrangement in which a probate court judge appoints someone to be in charge of your property, as distinguished from your person, which is the purpose of a guardianship.

A conservatorship proceeding is initiated when someone/anyone petition the probate court and says that you are unable to manage your affairs due to any enumerated reason, including mental or physical disability, illness, chronic intoxication or similar reasons. The related concern is that you have property that will be dissipated unless a conservator is appointed.

The person appointed as your conservator is responsible for managing your property and money. The person's powers are granted by the judge and by statutes. Typically, however, the conservator will pay your bills, handle your banking and decide if property needs to be sold. Conservators are required to file annual accountings of their activities, identifying receipts and disbursements made during the year. The accounting is presented to the court for approval.

If you wish to learn more about conservatorship, or would like to learn how to minimize the likelihood of a conservatorship proceeding, contact us for a free consultation (888-526-4489).