Introduction
Due to the effects of aging, disease, or injury, circumstances may arise where someone in your life requires help handling his or her finances. Sometimes, a loved one might be vulnerable to scams, forgetful about bills, or irresponsible in their spending. In these cases, you might consider petitioning the Court for a conservatorship. A conservatorship is a protective arrangement that can be used to help loved ones from making irresponsible financial choices, including falling for scammers. A conservator is the individual who the Court appoints to make financial decisions on behalf of a protected person. A conservatorship is typically warranted when a person with diminished mental capacity or physical disability has assets they can no longer manage without assistance. To determine if a conservatorship is right in your situation, call us at (480) 409-9303.
Responsibilities of a Conservator in Arizona
A conservator’s responsibilities are primarily financial. A newly appointed conservator should be prepared to file an inventory of the protected person’s property within 90 days of appointment. A conservator must also provide an accounting of the protected person’s estate to the Court every year. Other responsibilities may include managing the protected person’s finances, collecting income, budgeting, and paying the protected person’s bills. Additionally, a conservator is required to observe all fiduciary duties that would be required of a trustee under Arizona law. It’s crucial that a conservator takes steps to avoid benefiting themselves, their family, or their friends to the detriment of the protected person.
What Is Required for a Conservatorship Hearing?
The Court considers various factors when making decisions about potential conservatorships. The following is a list of things the Court may use to determine whether an individual needs a conservator and, if so, who should be appointed as conservator:
- Medical Evidence
- The Court Investigator’s Report
- Information about the proposed conservator, including their background and criminal record
- Testimony from family, friends, medical experts, or other interested parties
- Objections from family members or other parties
If the Court decides to appoint a conservator, the Court will sign an Order Appointing Conservator and set deadlines for reporting and accounting. Even if the Court appoints the conservator, the conservator has no authority to act until they have received the certified Letters of Conservator.
Different Types of Conservatorships
Depending on your loved one’s needs, they may require a different level of assistance. A full conservatorship can be cumbersome and may be unnecessary where a temporary or limited conservatorship may be enough. Click here to learn about the different types of conservatorships.
What Can You Do to Help Your Loved One?
If your family member or loved one is struggling to make sound financial decisions due to incapacity, they might need your help. The conservatorship process can be daunting, but that’s where JacksonWhite Law can help. Our experienced Guardianship & Conservatorship team stands ready to assist you as you seek protection for the people you love! Call (480) 409-9303 to get help today.
The above information should not be construed as legal advice. No attorney/client relationship is formed upon receipt or delivery of the above information.
