A conservatorship can be an important way to care for and protect a loved one. For that reason, anyone who is appointed as a conservator should be familiar with the important responsibilities of a conservatorship.
The role and responsibilities of a conservator
The responsibilities of a conservator once they have been approved as a conservator include:
- Serving as a fiduciary responsible for managing the protected individual’s personal property as the court authorized in the decree;
- Encouraging the protected person to participate in decisions, act on their own behalf and regain the ability to manage their estate and business matters to whatever extent possible;
- Telling the court if the address of the conservator or the protected person changes; and
- Telling the court if the protected person dies by filing a copy of their death certificate with the court and by also filing a final account.
The conservator must also file a variety of different documents. A conservatorship creates a legal status when the court appoints an individual to manage the financial and personal affairs of the incapacitated or protected individual. The conservator may also serve as a guardian responsible for establishing and monitoring the physical care of the protected individual and managing their living arrangements.
There are different ways that incapacitated individuals and elderly loved ones can be protected and that their affairs can be managed when needed. This can include a guardianship or conservatorship and other documents that can be included in an estate plan. It is helpful for families to be familiar with elder law and estate planning law.