|
Generally it can be said that
the guardian makes decisions about the person, such as medical or
housing decisions, and the conservator makes decisions about the
property or the finances of the person. A guardian and a
conservator can be the same person or institution or they may be
different. For example, a guardian could be a person and a
conservator could be a trust company or bank.
As soon as they are appointed, a conservator
must assemble a list of all of the protected individual's
properties, debts, charge accounts, and credit cards. The
conservator has 56 days after his or her appointment to file an
inventory of all the protected individual's properties with the
probate court.
Once the conservator is appointed, he or she
is responsible for the collection, preservation, and investment
of the protected individual's property and must use the property for
the support, care, and benefit of the protected individual
and his or her dependents. A conservator may not use any of the
protected person' s assets for his or her personal benefit.
Many family members who care for a disabled
person do not have the technical expertise to carry out all
of the legal responsibilities and duties. This can be
 especially
true if the person is appointed as a guardian or conservator. In
most cases, it will be necessary for such a person to retain the
services of an attorney, accountant, bank trust department,
investment counselor, psychiatrist, family counselor, and/or other
professional.
Nesi and Associates, P.C. has the practical
experience to help our clients find the best way to care for a sick
or aging relative, and we work with our clients to coordinate the
help of other professionals to make sure that the assets that their
relatives have built up are not needlessly dissipated. |
(313)886-5769 | info@nesilawyers.com
