Watch for our next article on how to avoid court ordered conservatorship.
A Fiduciary as a Conservator is the person who is legally appointed by the court to manage the conservatee’s estate and/or person.
There are two aspects to Conservatorship: The Protected Person may need a conservator of the Person and or of the Estate.
The Conservator has many duties and responsibilities to the Conservatee.
Taking care of the Person
This involves the conservator assuming responsibility for decisions regarding the health and welfare of the person. The conservator makes certain the protected person has a safe living environment, proper food, their health care needs are being met, they are seeing the Doctor as required and medication is being managed.
Taking care of the Estate
The conservator of the estate is responsible for prudent use and protection of the conservatee’s assets. The responsible person also must report annually to the court about all income and how the estate was spent for the care of the protected person.
Ethical Duties
Generally speaking, a Conservator owes a fiduciary duty to the Protected Person, meaning that the Conservator must always act in the best interest of and with undivided loyalty to the Protected Person, avoid transactions that cause a conflict of interest, and administer the care of the Person or Estate with care and prudence.
Generally speaking, a Conservator owes a fiduciary duty to the Protected Person, meaning that the Conservator must always act in the best interest of and with undivided loyalty to the Protected Person, avoid transactions that cause a conflict of interest, and administer the care of the Person or Estate with care and prudence.
A Conservator must always act in the best interest of the Protected Person. A Conservator should not enter into transactions in which he or she will benefit at the expense of the Protected Person. A Conservator must keep the estate’s assets separate from his or her own property.
Tags: "eldercare services, eldercare consulting, trustee private trustee services,trust administration, trust officer, special needs trust administration, fiduciary in Santa Clara, fiduciary in San Jose, fiduciary in Bay Area, private fiduciary, conservator, power of attorney for healthcare, power of attorney for finance, executor, trustee services bay area, trustee services, private trustee, financial elder abuse, durable power of attorney, elder assistance, elder services, help senior"
No comments:
Post a Comment