Conservators can be appointed to make financial decisions and safeguard assets for adults experiencing capacity declines, including changes related to aging and dementia. Professional conservators are a possibility and can be a huge relief for worried and stressed families. Of course, understanding the line between protecting loved ones and stifling their independence is critical.
Living independently, despite the challenges aging and mental health can bring, is an important value and goal for many of us. The wise appointment of a conservator can enable independence, Trustee Pro shares this information about how a conservatorship is arranged in California:
In Orange County, CA, conservatorships are heard in probate court at the Lamourix Justice Center in Orange, California. A Conservatee is someone who doesn’t have the capacity to manage his or her personal care and finances.Usually an attorney representing the conservatee recommends to the court a conservator, which usually is a family member, friend or fiduciary. The court approves the conservator after an investigation to manage a conservatee’s daily needs and financial assets. The conservator must follow the law and act in the best interest of the conservatee with the highest trust, accountability and responsibility.
The duties a professional conservator performs vary based on the circumstances. The experts at Professional Fiduciary Services share this list of examples of both personal and financial care responsibilities that can be performed by conservators:
- Supervise medical care, insurance benefits, and disability benefits
- Arrange a living facility
- Manage personal care needs
- Monitor meals and clothing
- Manage home care services
- Arrange housekeeping services
- Arrange transportation and daily activities
- Support spiritual beliefs
- Manage financial assets
- Provide record keeping and accounting services
- Coordinate a team of advisors as needed
- Assure that the appropriate California and Federal Income tax returns, including the estate/gift tax return, are filled out properly and filed on time.
- Organize and handle all mortuary and cemetery arrangements
- Provide court accounting and conservatee’s current status report
As fiduciaries, conservators must always act in the best interests of those they are appointed to serve. Accordingly, given the gravity of the responsibilities involved, conservators are typically required to obtain fiduciary bonds, specifically referred to as Conservator Bonds, which serve as a guarantee that duties will be carried out in accordance with the law and in the best interests of the person receiving the services. Colonial Surety is here to help, whenever fiduciary bonds are required. As a leading national provider of many types of fiduciary bonds, Colonial Surety makes it easy and efficient to obtain Conservator Bonds. Just get a quote online, fill out the information, and enter a payment method. Print or e-file the bond from anywhere—even before leaving probate court or the law office.
Important To Consider
As more people live longer lives–and cope with dementia and Alzheimer’s, it is anticipated that courts will face ever murkier decisions about what is right and best in the face of cognitive shifts and declines. In “The Dementia Paradox,” published in The New York Times Magazine, Katie Engelhart shares a heartbreaking real-life case, involving a mother, her grown children, and the mother’s new lover, and poses the question: “when cognitive decline changes people, should we respect their new desires?” Indeed, the line between protection and respect for independence is likely to become ever blurrier, making proactive planning increasingly important while families have the luxury of good health on their side.Fortunately, there are many estate planning tools and techniques that can help us prepare for our own needs as we age. As Parks & Jones explain:
“Contrary to popular belief, estate planning has applications both before and after death.” For example, an estate plan should include a medical advance directive, arrangements for long-term care and the appointment of a fiduciary who can step in as needed to handle finances. Though a fiduciary can be a friend or family member, solo agers might especially benefit from the services of a professional fiduciary.
Professional Conservator? Bonding Solution!
When families put their trust in you, there’s no time to waste. With Colonial Surety on your side, you can obtain a Conservator Bond or any type of fiduciary bond instantly and digitally via our online bond service. Our fiduciary bond portfolio includes: administrator, estate, executor, guardian, personal representative, probate, surrogate, trustee, conservator and more. Just select a fiduciary or court bond from the online portfolio, enter payment, and download, e-file or print the bond.
Specific obligee requirements? Trust us: Colonial’s a direct and national, bond writer, so our experts are here to ensure obligee requirements across the country are properly met.
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