Conservatorships are legal agreements in which one person makes decisions for another. This may be because a person is not mentally or physically capable of handling their affairs on their own. These arrangements are designed to ensure that every decision is made in the best interest of the person that can’t handle their own affairs. There are several situations in which a conservatorship may be necessary.
Mental Illness
Severe mental illness can make a person incapable of handling their own life. For example, a person with Bipolar Disorder may be extremely financially irresponsible during a manic episode. Whether or not a mental illness warrants a conservatorship depends on how severe the mental illness is and the impact it has on their life. Ask local conservatorship attorneys if you’re concerned that a loved one may need one.
Cognitive Ability
A person having decreased cognitive ability usually warrants a conservatorship. This may be due to a person’s age as cognitive decline is common in senior citizens. It could also be because a person is intellectually disabled and has never been capable of handling their own affairs.
Increased Protection
Sometimes, loved ones want a conservatorship to protect individuals, especially those that are more likely to fall for financial scams. For example, elderly individuals may be more likely to fall for romance scams that leave them broke. Likewise, younger individuals may not be able to manage their own money and are more likely to fall for scams due to a lack of experience. Conservatorship attorneys can discuss your situation with you to help you determine if this is necessary.
Few Alternatives
Often, family members or loved ones step in when a person is not capable of making decisions. We see this repeatedly when a person nears the end of their life. However, some people do not have friends or loved ones that are able to handle their affairs for them. In this situation, it’s common for the court to appoint a conservator to handle things for the person.
Whatever reason you have for seeking a conservatorship, you aren’t alone. According to US News, about 1.3 million guardianship or conservatorship cases are active at any given time in the United States, managing assets that total at least $50 billion. Conservatorships can vary depending on the person and the situation. Understanding this type of law can be complex. Instead of trying to figure it out on your own, let conservatorship attorneys help you with this difficult matter. Reach out to The Limbaugh Law Firm when you’re ready to schedule a consultation.
