What is a conservatorship?

A conservatorship is a legal relationship in which an adult, known as a conservator, is appointed by a court to care for and manage the financial affairs of a minor or an adult with a disability. In New York, a conservator may be appointed when an adult or a minor cannot care for themselves or manage their own finances due to physical or mental incapacity. The court appoints the conservator and makes the individual legally responsible for the care and supervision of the conservatee. The conservator will also manage the conservatee’s finances, ensuring bills are paid and investments are made, as well as save money for medical care or education. The conservator takes over responsibility for the property of the conservatee, and must account for any money or property that is received, used, or distributed. A conservator must follow certain rules and procedures that are outlined in the New York State Probate Law. These rules set out the process for having a conservator appointed, the rights of the conservatee, the roles of the conservator, and the duties of the conservator during the conservatorship. The court may require the conservator to post a bond and may also require that the conservator submit reports. The conservator serves until the conservatee is able to manage their own affairs or passes away. If the conservator fails to fulfill their duties, they can be held liable for the losses suffered by the conservatee. This type of guardianship law in New York provides important protection for those who cannot care for themselves.

Related FAQs

Can a guardian be held liable for the actions of the ward?
What are the duties of a guardian?
Who is eligible for guardianship?
What are the criteria for determining who should serve as guardian?
What is a permanent guardianship?
What is a temporary guardianship?
How much does it cost to become a guardian?
Can a guardian be appointed over the objections of the ward?
What is the process for appealing a guardianship decision?
What is a guardianship of the minor?

What is a conservatorship?

Related FAQs

Related Blog Posts