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We are an Elder Law and Special Needs Trust Law Firm. Located in Little Rock, Arkansas, we focus on helping individuals obtain Medicaid benefits without losing their home, Long Term Care Planning for victims of Alzheimer's Disease and other related disorders, Special Needs Trust solutions for families with children with special needs, and Preserving Eligibility for Public Benefits for personal injury victims.

 

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Conservatorship

Sometimes an individual is susceptible to financial exploitation.  This may be from a domineering relative or acquaintance.  In such cases, even a durable power of attorney may not be helpful.

An individual can voluntarily allow another to manage their financial affairs.  This is called a conservatorship and the agent is called a conservator.

This is similar in many respects to a guardianship in that it requires court approval.  The conservator must report to the court how the person’s financial affairs are managed.  In some cases, the conservator must obtain approval from the court in order to spend some of the ward’s assets.

The major difference between a guardianship and a conservatorship is that the ward consents to the conservator.  The proceeding is generally not confrontational and so avoids a hostel court procedure.

A conservatorship addresses the financial affairs of the individual.  It does not address personal decisionmaking. 

 

Raymon B. Harvey, P.A.

650 S. Shackleford Rd., Suite 400

Little Rock, Arkansas 72211

877-221-3416

Copyright © 2007. Raymon B. Harvey, P.A.. All rights reserved.

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