On behalf of Stange Law Firm, PC posted in Family Law on Monday, November 30, 2015.
Not all matters connected with Missouri family law have to do with separation and divorce. Sometimes the matter before the court has to do with how to take care of family members who in some way cannot take care of themselves. When this happens, the result can be the creation of a conservatorship.
What is a conservatorship? A conservatorship results from the appointment of a person or an entity such as a bank or a trust to manage the property, finances or both of children or adults who are unable to do this on their own behalf. Conservators should be distinguished from guardians in that the latter are appointed to take care of the person of an adult or a child incapable of taking care of his or herself, while a conservator has a responsibility for managing property and assets of that person.
How is a conservatorship created? In some cases if the subject of a conservatorship is able to do so, that person can participate in the selection of his or her own conservator. Or, in some cases, a court may appoint the conservator.
What are the responsibilities of a conservator? The main role of a conservator is to stand in a fiduciary position on behalf of the individual for whom the conservatorship has been established. This means that when managing the finances or property of the person whose property or finances he or she manages, the conservator must place the interests of that person ahead of his or her own self interest. This responsibility continues until the subject of the conservatorship reaches the age of 18 or for longer if that person suffers from a disability or other incapacity making him unable to take care of himself even after reaching adulthood.
This post is intended as a general reduction to the subject of conservatorships. It is not an exhaustive explanation, nor should it be construed as legal advice. If you need information or assistance in the creation of a conservatorship for a family member, a family law attorney will be able to assist you.