Conservatorships
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Conservatorships

As opposed to a guardianship that governs the “person,” a conservatorship deals with the person’s assets. A conservatorship is a formal probate court process on behalf of a person who is a minor or an adult who lacks the capacity to handle his or her finances. In many cases, Conservatorships are used when a minor child comes into a substantial amount of money, or when an older adult is having trouble managing their finances. It may help to prevent an older adult from depleting his or her savings and assets.

The conservator appointed by the court (usually a close relative) is responsible for managing the person’s financial assets including protecting and preserving their assets, prudently investing the assets, paying bills, accounting for property of the estate, and performing all other duties required by law.

The conservatorship goes on until the minor turns 18, person dies, the conservator resigns, the court order of appointment expires, or the court restores the person’s rights, capacity and ability to handle matters on their own.

As Conservatorships can be cumbersome and time-consuming, there are sometimes alternatives in lieu of a formal conservatorship. Often, a Durable Power of Attorney or a trust can be structured to provide similar protection for a person having difficulty handling his or her finances. A lawyer experienced with Conservatorships such as Christopher Cox, can explain these options to you.

We accept credit cards for your convenience. Contact our law firm today to schedule an appointment to learn how our legal expertise can help you acheive your goals. Attorney Chris Cox is conveniently located in Chesterfield, Missouri. Call us at 314.727.0163 or contact us online.

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Disclaimer

The choice of a lawyer is an important decision and should not be based solely upon advertisements. The information and materials on this Web site are provided for general informational purposes only, and are not intended to be, and is not, legal advice. This Web site attempts to provide quality information, but the law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance.

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