Do You Need To Establish A Conservatorship?
People frequently talk about the importance of dedicating legal guardians to care for your minor children in the event that something should happen to you, but what about appointing someone to care for you if/when you become unable to care for yourself? Aging adults sometimes suffer severe mental or physical health issues that can prevent them from taking care of themselves or their affairs. When this happens, there may be a need for a capable adult to step in and manage these responsibilities on their behalves. An Overview Of Conservatorships A "conservatorship" is when a responsible, capable adult steps in to handle another's financial assets in the event that the latter is unable to do. If the aging adult has appointed a power of attorney, appointing a conservator may not be necessary; the power of attorney may step in and handles these responsibilities. Unfortunately, many adults have not talked with an estate planning attorney at the Lake of the Ozarks and ...