Sometimes looking out for the best interests of your loved ones requires making difficult decisions. Establishing a conservatorship or guardianship can be one of those tough choices you need to make.
The Conservatorship Process Simplified
If an individual becomes incapacitated to the point where he or she can't handle his or her affairs, the court may have to step in and take action. Once a person (or ward) is judged to lack legal capacity by the court, a conservatorship will be granted and a conservator is named. In Mississippi, the court may appoint a conservator to be the conservator of the person or the conservator of the estate of the ward, or both.
The conservator of the person controls the health care and well being of the ward. The conservator of the estate takes control of the ward's property and financial matters. A conservatorship protects the ward’s property by making a yearly accounting to the court, at the expense of the ward’s estate. The conservator must serve in that capacity until released by the court.
It's important to know that with proper planning, the expense and difficulty of a conservatorship may be eliminated with the use of a living trust, but not with a will.
Guardianships for the Non-Elderly
A guardianship is similar to a conservatorship as it follows some of the same statutes. But while a conservatorship helps preserve the estate of an older person, a guardianship is generally for younger people or disabled persons who need their assets to be properly protected.
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About The Elder Law Firm
The Elder Law Firm was founded with the mission of looking out for the interests of senior citizens. As a testament to this, our locally owned and operated firm focuses exclusively on elder law.