What is a conservator?

A conservator is a person appointed by the court to manage the financial affairs and/or medical care of someone who is unable to do so themselves. In Delaware, a conservator must be 18 years of age or older, and must be able to provide proof of good character. The court will appoint a conservator if it is determined that an individual is mentally or physically unable to manage their own affairs. The conservator is responsible for safeguarding the assets of the individual being conserved, ensuring debt is paid, and providing financial reports to the court. When making decisions, the conservator must always act in the best interest of the conserved individual. In Delaware, a conservator must be bonded and approved by the court before taking office. The court may appoint a conservator of the person, which includes matters related to healthcare, or a conservator of the estate, which manages financial decisions and matters. The conservator may need to be approved each year to continue their role. In some cases, the court may also grant the conservator the authority to make decisions regarding the conserved individual’s living arrangements. This is often referred to as a guardianship. A conservator is responsible for the legal and financial affairs of the conserved individual, and must adhere to the rules set forth by the court in order to do the job properly.

Related FAQs

What are the tax implications of giving away property?
How does an Elder Law attorney assist in preparing for retirement?
How do I create a trust for a minor?
How can I prepare an estate plan?
How can I ensure my elderly parent is not being taken advantage of?
How do I plan for Medicaid eligibility?
What is the difference between a will and a trust?
How do I plan for a supported living arrangement?
What is advance healthcare planning and how can I do it?
What is the difference between Medicare and Medicaid?

Related Blog Posts

Essential Questions to Ask about Elder Law - July 31, 2023
Frequently Overlooked Considerations in Elder Law - August 7, 2023
Financial Benefits of Elder Law Planning - August 14, 2023
Navigating the Complexity of Long-Term Care Planning with Elder Law - August 21, 2023
The Cost of Not Planning for Elder Law - August 28, 2023