Guardianship and Conservatorship: What You Need to Know

Author

Stone Law, LLC

Posted on

Sep 27, 2021

Book/Edition

Colorado - Northern Colorado

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As we age, issues of guardianship and conservatorship may come up. If at some point an individual is no longer able to make financial or medical decisions a court may designate a guardian, conservator, or both. The courts decision to appoint a guardian or conservator removes the individuals rights to make decisions due to the individuals inability to manage safely and effectively on their own. Those entrusted with these roles take over making decisions for the protected person.

Colorado separates guardianship, appointing someone to make health and welfare decisions, and conservatorship, appointing someone to manage finances and assets.

Separating these roles allows for an individual to continue making health and welfare decisions when able, while appointing someone to take over financial decisions. The opposite could occur, depending on an individuals situation and ability. When both a guardian and conservator are needed the court may appoint two different people required to work together making decisions in the best interest of the protected person.

A conservator works to ensure the protected persons assets are used wisely for housing, medical, and other needs. Allowing bills to be paid and bank accounts managed. The guardian manages medical needs, support, care, welfare, housing, etc.

Leaving the decision of who takes on these critical roles to the court may not be in your best interest. By naming individuals within powers of attorney you allow yourself a say in the decision.

A financial power of attorney allows you to name a conservator, and indicate which financial decisions they are allowed to make for you. As your situation and needs change this document may need updating to fit your circumstances.

A medical power of attorney names someone to act as guardian, making health and welfare decisions when you are unable.

When appointing a guardian or conservator the court takes several factors into consideration, including those named within powers of attorney. Ensuring someone appointed guardian or conservator will act in your best interest is crucial. You want someone who will manage your assets and medical care wisely. Having powers of attorney in place as part of comprehensive estate planning can give you peace of mind knowing someone you trust will take care of you.

Editors Note: This article was submitted by Andrew P. Stone, Esq.
Andrew isthe principal attorney with Stone Law, LLC and may be reached at877-897-6591 or by email at andrew@stonelawllc.com

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Stone Law, LLC

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