How to Become a Conservator

A conservator is a person who is given the power and responsibility to handle some or all of another person's assets and financial affairs. The court appoints the conservator when a person is considered by the court to be unable to handle their own financial affairs.

Difficulty: Moderate

Instructions

1. An individual can request a conservator for themselves, or any adult interested in the well-being of that individual may petition the probate court.

2. It must be demonstrated to the court that the individual is unable to handle his or her financial affairs. It must be shown that the individual is wasting money, or not spending sufficient money to meet his or her own care or needs, or the needs of dependent children.

3. The court will conduct an investigation and a hearing is held. The court will appoint someone to meet with the individual for whom the conservatorship is being requested.

4. Once appointed, the conservator has control of all or part of the individual's income, property and savings.

5. The conservator has the responsibility to spend and invest the money for the individual's benefit.

6. The conservator has the right to hire professionals such as lawyers, investment advisors and accountants to assist with the conservatorship.

7. The complexity of the job will greatly depend on the value of the property, the types of assets, the individual's needs, the extent of family cooperation and the presence of dependents.

Tips & Warnings

• When an individual has a conservator named for them, it is likely to effect their sense of independence. The conservator should recognize and respect this.
• There are filing fees for conservatorships. There may also be additional charges for the court's investigation.
• Conservators may be paid for their services from the individual's estate, if the court approves.