Because of age, or disability, it is frequently necessary for family members to take control of assets, or take possession of real property or personal property, for the benefit of the owner, or the individual. For young people without someone specific to care for their property or them, a guardianship can be established. For older individuals, who have a disability, and need protection, a conservatorship may be formed. The individual who is typically the subject of the guardianship and conservatorship is referred to as a Ward.
A guardianship can provide that individuals can use funds, sell property, and take other actions, as are needed to protect their underage ward. Guardianships are typically Court ordered, governed by the Court, and require frequent reports to the Court regarding activities with regards to the property.
Conservatorships for disabled adults are appropriate when an individual has a lifelong disability, or, when a family confronts a disability later in life, as with an Alzheimer patient. Typically, like a guardianship, a conservatorship is supervised by the appropriate Court. A bond is typically required to be certain the Ward’s assets are there when needed.
Taking possession of another’s property and funds, and acting appropriately, requires prompt and proper legal action. Olson & Olson, PLC is well-versed in the law related to guardianships and conservatorships and stands ready to help your family when a need for assistance in this area is presented. We can help you prepare a proper plan which will allow you to care for the Ward with ease, and in a way that makes your life, as the administrator, as easy as possible.