Making Sense of Estate Planning Issues, Probate Conservatorships

By:Terry Parker

What is a probate conservatorship? A probate conservatorship is a court proceeding in which a judge selects a person, known from then on as a conservator, to manage the personal needs, known as conservatorship of a person, and or finances of a legal adult.

This differs from the guardianship appointment, which involves an appointed adult and a minor child. The following should help you understand the differences between the different types of conservatorships and they affect you.

How do probate conservatorships differ from other types of conservatorships? Probate conservatorships also differ from mental health, or LPS conservatorships, since LPS conservatorships are reserved only for those with a serious mental illness who require very powerful drugs to control their behavior.

Limited conservatorships, which apply to those who are developmentally disabled, are considered a type of probate conservatorship, but have different requirements and restrictions.

What are the rights and responsibilities of the conservator? As a conservator of another person under a probate conservatorship, a person does not automatically become a conservator of the estate, unless the appropriate petition is approved and filed.

In this case, the conservator controls the conservatees finances, but the conservatee still has the power to make their own will, unless the court allows the conservator to do so, which typically occurs when the conservatee becomes too ill to create a will or an estate plan, the conservatorship in question has been established because the conservatee had been taken advantage of in the past, and the existing will or estate plan has been deemed invalid by a court of law.

When it comes to issues of medical treatment and care, the appointed medical conservator has the authority to supervise the routine medical care and well being of the conservatee, as long as they do not object to this. In cases of medical emergency, the conservator has the legal authority to supervise the care of the conservatee whether or not they agree.

Medical conservators can also ask the court for power to give informed consent, in the event that care is recommended for the conservatee that they refuse to accept.

In the event that the conservatee becomes unable to give informed consent, their physician will likely provide a declaration form for the conservator to submit to the court.

If this declaration is approved, the Conservator will be able to make most medical decisions without the permission, consent, or knowledge of the court.

Digg del.icio.us Blink Stumble Spurl Reddit Netscape Furl

Article keywords: probate conservatorship, conservator

Article Source: http://www.articles2k.com

Visit our site for 401K Rollover articles, guides and more information.

Top Financial Planning Articles
1). Inflation - The Slayer of Your Savings By : Chris Cooper Since inflation consistanly erodes the buying power of our money, our investments have to exceed the inflation rate or we will outlive our money.
2). Officially Licensed Products Give A Kick To Your Youth Or School Fundraiser By : D. David Dugan Fundraisers have changed somewhat from when I was a kid. We sold one thing and one thing only, candy. Candy for the school basketball team, candy for the local baseball league and yes, candy for the football team too. Don’t get me wrong, it was good candy, but we didn’t have the choices today’s organizations do. Everything imaginable is generating funds for our children’s sports these days.
3). Fundraising Ideas: Keep It Safe By : Kimberly Reynolds When your youth group is doing a fundraiser, it is imperative to make sure that the proper safety precautions are followed. Never allow door-to-door sales without direct adult supervision. Period. In a sad case, an 11-year-old boy selling candy for a PTA fundraiser came to the door of a 15-year-old boy who was home alone at the time. The youngster was invited inside, sexually molested, and then murdered.
4). Fundraising For Youth Groups By : D. David Dugan Youth Groups are almost always in need of funds. Holding fundraisers to finance important trips like tournaments, museums, and musical events are just some of the needs that have to be met through fundraising. Others include the need for uniforms, sports equipment, art supplies, musical instruments, and more. There are a lot of different ways your youth group can raise the funds they need.
5). What Are My Investment Choices For Retirement Planning? By : Richard Callaby Investing for retirement may not seem important yet for someone who is still in their early age. But once that age of retirement is reached, then you will feel the need to do so. It might be too late then as you will not get the most out of your investments anymore.
6). Getting the Best Return on Investment for your Fundraiser By : Kimberly Reynolds Return On Investment (ROI) is a fundamental business concept. Its also something that every fundraiser needs to take into consideration. A business investment consists of working capital, physical assets, and peoples time. ROI is the net gain that results from a business spending money and utilizing physical assets, along with the expenditure of employees' time, in an effort to produce tangible profits.
7). New And Unusual Fundraising Ideas By : Steve Gillman Need some new fundraising ideas? When your organization or group needs to raise money for a trip or project, there's nothing wrong with another bake sale. Do something a little different, though, and you may get more volunteers for the event. You might also get more media exposure, meaning more people will participate, which means more money raised.
8). Car Wash Fundraiser Ideas By : Kimberly Reynolds Car wash fundraisers are a proven money-maker in virtually every community. All you need are willing volunteers, a high-traffic location with good visibility, and some attention getting signs. You can put a car wash fundraiser together on short notice, but they work best with a little planning. Here's how to get started... Things To Do List 1- Line.
9). How to Avoid Car Financing Pitfalls By : Joseph Kenny If you are considering the purchase of your first car or even your next vehicle if you’re not a first time car buyer, you may be concerned about the prospect of financing your vehicle. This concern is not totally unfounded.
10). Stock Market Trading By : Sandro Azzopardi The stock market offers various opportunities for trading. Apart from the main securities, which one can trade on various exchanges like the New York Stock Exchange and Nasdaq, there are other forms of trading like forex trading, currency trading and ‘contracts for difference’ also known as CFDs.

New Financial Planning Articles
1). How To Get Your Personal Finances In Order By : Gaetane Ross When you think about personal finances, what do you think of first? Which aspects of personal finances are important, which are essential, and which ones can you take or leave? You be the judge.
2). Past Tense Pitfalls By : Kemberly Wardlaw Creating an Investment Policy and Moving Forward after a Loss.
3). Setting and Achieving Your Financial Goals By : Marjorie Salada Financial goals are something you are going to want to put in writing and at some point in time and if you have a partner, they should do the same. If you have a partner you are going to want to discuss your goals together to see how compatible these goals and desires are. If they are completely different, you will need to find a common ground that is going to work for both of you.
4). Little Known Ways to Save Money for College By : Dave Poon One of the phrases that parents dread the most is this: college money. As soon as their child is born, parents tend to think about the future and actually make plans for their kids.
5). Save Money With A Mortgage Calculator By : Keith George It is very important to base important mortgage loan decisions on sound calculations. Most loan calculators will enable you to do that.
6). Personal Statement for College: An Investment for your Future By : Dave Poon You have heard it a thousand times over: how education is one of the most important things that you should invest in for your future.
7). What You Should Know About a 401k By : Heather Colman A 401k is a good place to start in planning for your future retirement, no matter how far away you may be from the actual time.
8). Stock Market Prediction By : Sandro Azzopardi Predicting the stock market has always been a fascinating science. It can be done in different shapes and forms.
9). Stock Market Trading By : Sandro Azzopardi The stock market offers various opportunities for trading. Apart from the main securities, which one can trade on various exchanges like the New York Stock Exchange and Nasdaq, there are other forms of trading like forex trading, currency trading and ‘contracts for difference’ also known as CFDs.
10). Stock Market for Dummy By : Sandro Azzopardi It is not easy to start trading on the stock market when you have no financial background at all. It shouldn’t be difficult to prosper, though, if you follow certain guidelines. Being organized and disciplined are two very important factors in this business. Don’t let all the information you gather confuse you. Make sure important decisions are taken before you start risking your money.