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Tips for Managing a Conservatorship

Probate lawyers will assist clients in effectively understanding and managing the responsibilities of a conservatorship.

The probate process can be a complex and confusing experience, especially when there are unique circumstances involved that may complicate matters. This is why it is so important to hire a professional probate lawyer when you are dealing with the probate court. A probate lawyer can help clients navigate the requirements and stipulations of the probate process in order to complete the process in the most efficient and effective way.

What Is a Conservator?

One unique circumstance that can occur which may be confusing for families is conservatorship. In fact, many people have never heard of this term until they are required to address it. A conservator is a person who is appointed by the probate court to protect an individual’s assets and financial affairs during the time of their incapacity. This may apply to a minor or an adult and the conservator can be named in advance or may be appointed by a probate court. This person is responsible for managing the estate and financial obligations of the incapacitated person and is given the legal permission to act in their behalf in what is known as the Letters of Conservatorship.

Responsibilities of a conservator may include:

  • Taking an inventory of all the person’s assets – a report is then submitted to the courts for review and it is important to submit this report in a timely manner
  • Ensuring assets are valued at an accurate amount at the time of being appointed
  • Determining the monthly expenses of the protected person and creating a reasonable budget to allow that person to continue to live as comfortably as possible within their means.
  • Collect, retain, and organize all receipts for payments and expenses
  • Manage the sale of property and assets, as necessary
  • Compete required reporting forms in a timely manner

In addition to understanding their obligations to the protected person, it is imperative that the conservator understand the limits of their responsibility. A conservator should never comingle the protected person’s assets with their own and should conduct the financial matters in a reasonable and ethical manner. Furthermore, a conservator will lose all rights to act on behalf of the protected person when the protected person dies.

Professional Assistance is Available

There are ways to ensure the financial matters of the protected person are managed effectively and accurately and a professional probate lawyer can advise on practices that would be helpful depending on each client’s unique circumstances. If you have been named as a conservator or would like to name a conservator for yourself, contact a probate lawyer for assistance.

bruceOur experienced attorneys are committed to providing our clients with the guidance and support that they need to resolve their estate and probate issues. With over five decades serving clients in Southeastern Michigan, the attorneys of Michigan Legal Solutions (Seglund Gabe Quinn Elowsky & Pawlak, PLC) have the knowledge and resources to resolve your legal matters.

The laws pertaining to estates, administration of trusts, guardianship and other cases in Probate Court are complex and ever changing. Experienced legal counsel can help navigate the maze of procedures involved in handling a decedent’s estate, guardianship, conservatorship or trust. Contact our team today to set up an initial consultation.

Michigan Legal Solutions
28345 Beck Road, Suite 401
Wixom, MI 48393
Phone: (248) 869-0030
Fax: (248) 869-0039

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I have over 20 years of experience in developing successful, efficient and strategic web marketing and advertising solutions for businesses. Working through an entrepreneurial framework, I have focused on business development, sales, execution, and management. Combining solid knowledge of marketing and advertising with information technology, I have been successful in being able to apply digital technologies to the needs of businesses. As an early adopter of new ideas and technology, my clients are able to benefit from imaginative and effective programs that keep them ahead of their competition.

The Company

Smartfinds is a digital marketing agency working with national and global corporate clients including domestic and off-shore franchise operations with their online marketing efforts. We offer a number of core competencies including web marketing research, analysis, strategies, and tactics; website development and SEO; organic search engine marketing with content marketing and social media marketing; Google AdWords advertising including pay-per-click; Google Analytics and Google Webmaster Tools interpretation; Local Store Marketing including customer ratings and reviews management; and more.

Our entrepreneurial business approach employs open-mind creativity and early-adopter assertiveness along with in-depth planning for business growth. Our goal is to be a strategic partner with our clients focused on increasing traffic to the website, business growth, generate leads, increase sales and revenues.