When it comes to estate planning, setting up a conservatorship can greatly benefit a loved one. Read on to find out more about conservatorships, the different types, and how to create one.
Generally, there are two main types of conservatorship. The first is a limited conservatorship. This is for adults with developmental disabilities who cannot care for themselves or their finances. General conservatorships, on the other hand, are reserved for the elderly or adults who have been impaired due to a degenerative illness or accident and are no longer able to care for themselves or manage their finances alone. In cases like these, it can be beneficial to have a loved one take over certain aspects.
When you create a conservatorship, you essentially give the basic civil and legal responsibilities of one person, known as the conservatee, to another, the conservator. All conservatorships begin in the Probate Court with the filing of a Petition for Conservatorship. The petitioner will specify whether the proceeding is a limited or general conservatorship and whether powers are being sought for personal care matters, financial matters, or both.
If you petition for a limited conservatorship, the Court will review 7 separate areas and decide what powers they will take from the conservatee and grant to the conservator. They may grant the conservator the power to:
Fix the conservatee’s residence or dwelling
Access the conservatee’s confidential records or paper
Consent or withhold consent to marriage on behalf of the conservative
Enter into contracts on behalf of the conservative
Give or withhold medical consent on behalf of the conservative
Select the conservatee’s social and sexual contacts and relationships
Make decisions to educate the Conservatee
Some Conservators are granted all 7 powers while others may be granted only one or two or more. The powers not granted remain with the Conservatee.
If you think a conservatorship could benefit a loved one, do not hesitate to reach out to our firm to explore your options and begin the process. We are here to walk you through all of your family law matters.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.