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Preserve Financial Support With Conservatorships
Many people use the terms conservatorship and guardianship interchangeably. While both conservators and guardians protect vulnerable people such as young children or adults with disabilities, they have different roles. A guardian cares for the person and his or her daily needs, while a conservator handles estate and financial asset matters.
The attorneys at Janssen Law, PLC, have experience in all estate planning matters. As a father-and-son team, we are passionate about helping families protect the future of their loved ones. We can help you establish a conservatorship in your will to preserve the finances and assets you pass on to your protected family members. Your family has unique needs, and we will work closely with you to meet those needs.
Establishing A Conservatorship
It is a good idea to establish a conservatorship in your will if you have minor children or others who depend on you for finances. When the conservatorship is to go into effect, Iowa courts must first determine that the protected person, called the ward in legal terms, is unable to make financial decisions on his or her own. Then, they must also collect evidence that the proposed conservator has experience managing finances.
It is important to note that one person can be both a guardian and a conservator. This depends on the person as well as your family’s needs. The attorneys at Janssen Law, PLC, will make sure you understand all the options available to you and help you choose the best decision for your family’s future.
The Duties Of A Conservator
A conservator can be an individual or an organization. What is most important is that you can trust that person to protect your finances for your protected family members.
The conservator’s responsibilities granted by the court include:
- Managing all estate matters
- Paying debts and taxes
- Collecting payments
- Handling contract issues
- Managing spending
Some responsibilities require prior approval by the court. Those include:
- Payments that benefit the ward
- Medical expenses
- Selling the ward’s property
- Gifting in the ward’s name
- Terminating contracts
We Can Help Protect Your Family. Contact Our Lawyers Today.
We are here to help you with all of your estate planning needs. It is important to us that you understand the process. Whenever you have a question, we invite you to call us. We will help you find the answers. Contact us online or call our Des Moines offices at 515-421-9068 to schedule your free consultation today.