Conservatorship is one form of Living Probate
Conservatorship involves the management of someone’s financial affairs. The individual who requires a conservator is known as a “ward.” If proper planning has not been done to provide for someone in the event of incapacity, court involvement is required to appoint a conservator. The appointment process, duties and responsibilities of the conservator are dictated by Arizona statutes and the court maintains jurisdiction and oversight throughout the conservatorship.
Conservatorship may be necessary in the case of an incapacitated adult, such as a person with dementia, someone in a coma or even someone who is missing. Also, conservatorship may be necessary for minors or developmentally disabled children who turn 18. Up until the age of 18, a parent can act on behalf of the minor, but once the child reaches the age of majority, a conservator may be necessary if there are sufficient funds to manage.
Conservatorship only involves management of finances. Management of other aspects of an incapacitated person’s affairs, such as residential placement and health care requires a guardianship.
Estate Planning and Elder Law Attorney, Ronald Zack
Call or contact for a consultation regarding conservatorship and/or guardianship. (520) 331 – 3232