Establishing a court-appointed conservatorship allows individuals to name another person as the financial guardian of a third party, frequently the elderly, children and disabled adults. A conservatorship can also be created for anyone who is unable to make good financial decisions. Spouses, adult children or an independent professional such as an attorney or accountant may be appointed conservator. A conservatorship must be terminated by the court system.
A conservatorship is not right for every situation. A power of attorney, trust or guardianship may provide better, less restrictive protection in some circumstances. An experienced attorney could advise individuals about their legal options and help them choose the most beneficial estate planning option for their loved one.
Contact a conservatorship lawyer to discuss the benefits and process of choosing a conservator at the Estate & Probate Legal Group in Lombard Illinois at (630) 382-8069.