Alex Harrington of Burns & Levinson LLP has made available for download his article, “Does My Family Member Need a Conservator? What Would That Look Like?”, published in JDSUPRA. The abstract is as follows:
It can be difficult to talk with loved ones about protecting their assets or managing their financial affairs. Even if you have been assisting your loved ones with their finances for some time, it can be quite emotional and even complicated to explain that it might be time for more protection, and what that would look like. This post will assist you in doing just that: explaining conservatorship to your loved one.
WHAT IS A CONSERVATOR?
A conservator is a court-appointed fiduciary who oversees and manages the estate – particularly the finances – of the protected individual. A conservator protects the property and business affairs while a guardian manages the individual’s physical well-being. Potential duties include collecting, holding, and investing assets, paying bills, operating a business, and selling tangible personal property.
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal