A conservatorship is a legal proceeding used to protect loved ones because they are not able to make decisions without appreciating the consequences of those decisions. Many times Conservatorships are used for the elderly who are suffering from dementia, or prone to undue influence and financial elder abuse. Conservatorships are also used to protect adults over the age of 18 who may suffer from severe disabilities. Whichever the case may be, we can help!
A guardianship is a legal proceeding that applies to individuals under the age of 18. It involves assigning a guardian either by agreement or through court proceedings to manage, protect, and care for an individual who is unable to do so themselves. When a minor inherits money, it is known as a guardianship of the estate. This can involve managing and protecting their assets until they reach maturity to ensure that their inheritance is used responsibly.
The benefits of having a guardian are immense; it ensures that someone with life experience will be able to provide advice on how best to manage finances and other important matters in life such as education and healthcare decisions. Furthermore, children who have lost or lack parental support often benefit from the emotional stability that having another adult role model brings.