Conservatorships: Looking Out For Those Who Need Help
It can be stressful if you have a parent or other loved one who is having difficulty keeping up with financial matters due to advanced age or mental incapacity. If this is your situation, you may feel compelled to act — not only for your loved one’s immediate well-being, but also for the continued solvency of that person’s estate.
At Chan Law Firm, our conservatorship attorneys work with clients who recognize that their loved ones are unable to continue to manage financial matters independently. Seemingly reckless spending or sudden changes to financial strategies can be symptomatic of a person who may no longer be fit to manage his or her own finances. A court-appointed conservator can act on behalf of a person with diminished capacity, managing that person’s property and financial interests.
What Are The Duties Of A Conservator?
Many people who are named as conservator are not familiar with the duties they are expected to perform. The attorneys at Chan Law Firm have extensive experience in advising individuals who take on the duties of a conservator. We can advise you with regard to all the requirements, including the duty of submitting annual reports. We can also advise and represent you if a family dispute arises.
For example, siblings or other family members may not agree with the choice of a conservator, and the family may decide to challenge the designation. As experienced conservatorship lawyers, we can assess your case and help you decide on the best path forward, whether you are seeking to become a conservator or you feel that someone else would be better suited for the task.
Conservatorships For Disabled Adult Sons And Daughters
If you have a son or daughter with special needs who will not be able to manage his or her own money as an adult, you can petition for a conservatorship. If your adult child needs assistance beyond money management, you may want to petition for guardianship.
Conservatorships For Minor Children
If you have a situation where a child is entitled to property or money, Chan Law Firm can help you establish a conservatorship for the child or petition the probate court for authority to compromise a claim, if necessary. Our founding attorney, Ophelia Chan, served as an assisting judge on conservatorships for minors and petitions to compromise claims on behalf of a minor in Cobb County Probate Court for several years. She can advise you on what is necessary for the Probate Court to approve the compromised claim.