A conservatorship, much like a guardianship, is designed by the legal system to offer a way of assistance and support to individuals in need. The main difference between a guardianship and a conservatorship, is that a conservatorship focuses on an individual’s financial needs rather than their personal needs. In many states, including Kansas, an individual may become incapacitated or unable to properly manage their finances. In these situations a person may require the assistance of a fit adult, usually a family member, to oversee the payments of their bills, manage their investments and oversee other aspects of their finances. If you have a loved one or know someone who may be no longer be able to take care of himself or herself financially, you may wish to suggest or consider conservatorship.
Conservatorship for the Elderly or an Adult with Special Needs
Although the intent and objective of a conservatorship is to provide assistance to those in need until their capacity is restored, sometimes that may not seem like a possibility. For example, an elderly person or an adult with special needs may be in need of an indefinite conservatorship considering their mental or physical state. Despite their age they may not be capable of properly managing their financial affairs and would benefit from the oversight of a conservator.
An elderly person or an adult with special needs may also be at risk of others taking advantage of them or mistreating their finances or assets. A conservatorship can also help safeguard from these things taking place and help ensure their best interests are protected. A conservator can be given the authority to handle an individual’s estate as well, which includes handling debts, buying or selling property (real or otherwise), or taking care of other individual needs while the person is alive.
Conservatorship for a Minor
An adult is not the only type of person that may benefit from appointing a conservator. Oftentimes minors may require the roles and responsibilities of conservatorship as well. For example if a child has inherited a large sum of money or an estate, the conservator may help ensure they receive it and assist in properly managing it until the child is able. A child’s natural and automatic guardians are their biological parents, however if something were to happen to them collectively or simultaneously, a conservator may act according to their wishes or on their behalf regarding the child’s finances.
Contact Kansas Attorney Tom McDowell to Discuss Your Conservatorship Needs Today
Whether you know an elderly relative, an adult with special needs or a child who needs oversight of their finances, our firm can help create a conservatorship that will protect them. An individual deserves to be taken care of when they are unable to take care of themselves, and Attorney Tom McDowell strives to do just that. He will discuss various options with you and help create a conservator plan that works for all parties involved. Call Kansas Conservatorship Lawyer Tom McDowell, at McDowell Chartered Legal Services today (316) 269-0746 to see how he can help you establish a conservatorship to suit your needs.
