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When is it appropriate to set up a conservatorship?

Estate planning is a beneficial step for every family, regardless of income level or assets. For some California families, drafting a basic will is enough, while others will need more advanced measures to fully protect their interests. In order to understand the best way to custom-tailor your estate plan, you would be wise to fully consider both your current situation and your long-term needs.

If you are caring for an individual with special needs or it is possible that you may have to do so in the future, you may find it beneficial to learn more about conservatorships and the protections they can provide. A conservatorship is necessary in situations in which a person is managing the financial affairs of someone who does not have the capacity to do so.

Taking the right step for your family

The decision to set up a conservatorship is not an easy one to make. It requires careful consideration of all factors as well as knowledgeable guidance in order to ensure that you follow the appropriate legal steps. If you believe that this could be an appropriate step for you, you may be wise to consider the following:

  • As a conservator, you would manage financial affairs for a person who cannot do so due to a mental or physical condition.
  • You may also be able to make decisions regarding the personal care of the conservatee.
  • There are two types of conservatorships, and it is wise to carefully consider which may be best for your situation.

As you consider your situation and the potential benefits of a conservatorship for a loved one, you will have to decide which type is most appropriate for your family. The differences between the two are as follows:

  • Conservatorship of the estate is appropriate when a person is substantially unable to make decisions regarding his or her finances.
  • Conservatorship of the person is appropriate when a person lacks the capacity to care for himself or herself, make decisions for care, or meet his or her own basic needs.

There is no one-size-fits-all solution to estate planning. It is always prudent to have legal guidance as you make these important decisions.

Protecting your loved ones from harm

An estate plan is about more than just deciding where your money will go after your death. You can leverage your estate plan to ensure that your loved ones have the appropriate care and protection, and this may include establishing a conservatorship.

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