What is Conservatorship?
A conservator is the person who is legally appointed by the court to manage the conservatee’s estate and/or person. A conservatee is a person whom a court has determined because of physical or mental limitations or age requires a conservator to handle financial affairs, and/or actual personal activities such as housing and health care. The protected person may need a conservator of the person and/or of the Estate.
What are some of the Conservator’s Duties?
Taking care of the Person
This involves the conservator assuming responsibility for decisions regarding the health and welfare of the person. The conservator makes certain the protected person has a safe living environment, proper food, their health care needs are being met, they are seeing the Doctor as required and medication is being managed.
Taking care of the Estate
The conservator of the estate is responsible for prudent use and protection of the conservatee’s assets. The responsible person also must report annually to the court about all income and how the estate was spent for the care of the protected person.
Generally speaking, a Conservator owes a fiduciary duty to the Protected Person, meaning that the Conservator must always act with undivided loyalty to the Protected Person, avoid transactions that cause a conflict of interest, and administer the care of the Person or Estate with care and prudence. A Conservator should not enter into transactions in which he or she will benefit at the expense of the Protected Person. A Conservator must keep the estate’s assets separate from his or her own property.