What is a Conservator?
A Conservator is an individual appointed by the Court to manage the finances of someone who is no longer able to administer his or her property. A conservatorship grants a Conservator the power to handle most, or all, of a protected person’s business and assets. Certain actions can be taken by a conservator only after a court grants specific authority, often after there has been an opportunity for various people, including the protected person, to object. For example, court authority is always required before a conservator may sell the home of a protected person. Hiring an experienced Portland conservatorship lawyer is helpful for conservators, as it will ensure that your loved one’s important financial assets, businesses, and properties are carefully managed.
When is a Conservatorship Necessary?
If someone is unable to manage his or her financial affairs, or is being taken advantage of due to vulnerability, state law allows for the appointment of an Oregon Conservator.
How does One Become a Conservator?
An individual, usually a family member, files a petition with the court to become the conservator for the individual in question. The petition will state that the individual in question is unable to manage his or her income and property without assistance, and without management his or her assets will be wasted or dissipated. If the court agrees that the person in question cannot manage his or her finances, the court will declare him or her a “protected person” and appoint a conservator. Being a conservator can place a great deal of pressure on someone. Hiring Jane Ellis as your Portland conservatorship lawyer will simplify the process, while also easing your mind throughout.
What are the Responsibilities of a Conservator?
Once appointed, the conservator must obtain a bond, transfer assets, and file an Inventory with the court. The Conservator must also prepare and file an annual account with the court to explain every receipt and disbursement of assets. If an incapacitated person is wasting his or her financial resources due to dementia, Alzheimer’s, or some other mental disability, then a conservatorship is likely the best option.
If you’ve just been appointed a conservator for a loved one who can no longer manage their financial affairs, it’s time to make Jane Ellis your Portland conservatorship lawyer. With her years of experience, dedication, and compassion for clients, she will assist you every step of the way.