A Conservatorship is established through the court system if and when a person has been declared to be incapacitated and can no longer handle the management of their finances and property responsibly. An incapacitated person can be any adult over the age of 18 who the court finds is no longer capable of certain tasks, or a minor child who is not capable of specific responsibilities due to their age. Parents are considered to be the “natural guardians” of their children and have automatic rights and control over their children’s finances. However, parental rights may be terminated for a variety of reasons, or parents may be deceased, leaving the child with the need of a financial guardian, or conservator.
When a Child Needs a Conservator
A minor child may need a conservator for a variety of reasons when it pertains to protecting and managing their assets. Establishing a conservatorship is usually necessary if the child has inherited a trust, estate or a large amount of money or assets. This is common if the parents or grandparents of the child are deceased and they have left the child with some or all of their estate. Understandably, this type of responsibility is far too great for a child, nor do they have the knowledge required to manage finances of this extent. This is where a conservator may be established through the court system in order to manage and protect the child’s assets until they become old enough or capable.
How to Establish a Conservator for a Minor
Establishing a conservatorship in Kansas can be a complicated and lengthy process if you don’t have the help of an experienced Kansas Family law lawyer. An attorney who is knowledge in the area of conservatorship for minors can educate you on the process, and help move it along in the most efficient and stress-free way possible. Typically a petition is filed along with other important documents and the court will schedule a hearing date. This ensures any necessary parties can attend to provide testimony and either consent or object to a conservator being appointed on the child’s behalf. Also, if the child is of a certain age, they may be required to testify as well and provide their nomination for who they wish to be their conservator.
Rights and Responsibilities of the Conservator of a Minor
Along with being appointed as conservator of a minor comes many rights and responsibilities the court takes very seriously. This person must be capable and diligent when managing the minor’s financials and investing responsibility if necessary. They also have the right to petition to extend the distribution of the funds and assets to the minor until their 25th birthday. This may be necessary if the conservator feels it is best for the minor to wait until they are old enough to manage the assets on their own. The court strongly focuses on protecting the rights and assets of the minor and has placed certain responsibilities on the conservator in order to achieve this goal. The Conservator is required to submit certain annual financial accountings and reports to the court so the court can assess how the financials are being handled, and why certain decisions are being made.
Hire an Experienced Kansas Conservator Attorney to Assist You
If you know of a minor that needs or could benefit from having a conservator, our team is here to help. We know the importance of protecting a minor’s rights and their assets and have years of valuable experience and insight in doing so. The conservatorship process can easily be handled with the help of our experienced team of family lawyers who are knowledgeable in areas of minor conservatorship. Call a Kansas Family Lawyer at McDowell Chartered Legal Services today at (316) 633-4322 to see how we can successfully assist you in your conservatorship matter.