When an individual is creating a comprehensive estate plan, they should be sure to consider all factors. When someone in Maryland becomes incapacitated due to disease, an accident, or another disability, they may benefit from having a guardian appointed to them. Sometimes, there are situations in which the court does not appoint a guardianship to an individual, and no one is named in the estate plan to act as such. If this is the case, a loved one of the elderly person may wish to petition the court to grant them a conservatorship. If successful, the conservator will be permitted to manage all assets of their loved one. This includes making critical decisions regarding healthcare, finances, and daily living arrangements. This is a significant responsibility and should not be considered lightly. If you need assistance establishing a conservatorship in Maryland, contact JDKatz today.
What Is The Role of A Conservator?
Before an individual can petition the court to act as a conservator for a loved one, it is essential that they are aware of what responsibilities they may be taking on. Acting as a conservator is a challenging task. A conservator is responsible for taking control of all of the individual’s assets and managing them accordingly. This responsibility includes real estate, bank accounts, investments, and personal property. This consists of all investments, property, and finances. The conservator is responsible for ensuring all taxes and bills are paid on time. The conservator will be granted financial power of attorney to handle all the individual’s assets while incapacitated. In addition, it is crucial that the conservator communicates effectively with the family and ensures the well-being of the individual under their care. This is a challenging role that deserves the guidance of an experienced estate planning attorney.
Applying for Conservatorship
When it becomes apparent that an incapacitated adult needs a conservator to handle their affairs, the person who wishes to take on that significant role must petition the court. In the petition to the court, the prospective conservator must explain their relationship with the party they believe needs a conservator and why they should be appointed to this vital role. If other individuals are also petitioning for the role of conservator, they must explain why they believe they should be chosen over the other petitioner. In addition, the petitioner must prove to the court that the individual needs a conservator. This can be substantiated by presenting evidence such as medical evaluations or testimonies from healthcare professionals who work with the incapacitated individual. They must state whether they believe a conservatorship is needed now. The court will schedule a hearing to assess all information provided and determine whether a conservatorship is necessary and who they will appoint to fill the role of conservator.
Contact a Maryland Elder Law Attorney
If you are the loved one of a person who has become incapacitated and needs help managing their financial affairs, it may be a good idea to consider a conservatorship. Of course, this is a primary responsibility and should be taken seriously. Understanding the implications of this role, including the legal and emotional responsibilities, is vital for anyone considering petitioning for conservatorship. It is best to speak with an experienced estate planning attorney who can assess your situation and advise you on how best to proceed. Having knowledgeable representation can ensure your interests are protected and the process is handled carefully. Contact JDKatz today for quality legal representation.