Conservatorships - Protecting and Safeguarding the Financial Interests of Incapacitated Loved Ones
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Conservatorship in Florida
A conservatorship is referred to as Guardianship in the State of Florida and offers a legal avenue for managing the financial affairs of someone unable to make decisions for themselves. At Knowles, Bouziane & Shaffer Law, LLC our experienced attorneys can help clarify its implications and determine its suitability for your situation.
Understanding Conservatorships/Guardianships
A conservator, also known in the State of Florida as a guardian of the estate, assumes responsibility for overseeing the financial matters of another person, referred to as a ward. Their duties encompass tasks such as setting budgets, managing assets, paying bills, making investments, and handling taxes. Given the complexity of these responsibilities, our local attorneys at Knowles, Bouziane & Shaffer Law, LLC can provide guidance and support.
Differences Between Conservatorships and Guardianships
While conservatorships and guardianships share similarities, they serve distinct purposes. In both cases, the ward loses the legal capacity to make significant decisions about their life. However, a conservator exclusively manages the ward's financial matters and property, whereas a guardian serves as the ward's official legal representative, making decisions regarding their health and safety.
Appointing a Conservator/Guardian in Bradenton, Florida
In Florida, only a state probate court possesses the authority to appoint a conservator. The court must ascertain that the adult lacks the capacity to make critical financial decisions. Additionally, conservatorships may apply to adults who cannot communicate their financial preferences.
Establishing a conservatorship in Bradenton, FL involves multiple steps, which can be intricate. Knowles, Bouziane & Shaffer Law, LLC attorneys are equipped to guide you through this process. During our complimentary consultation, we will meticulously outline these steps.
Step 1: Filing a Petition for Conservatorship
The initial step in creating a conservatorship necessitates filing a petition, a legal document that requires two individuals to attest to the proposed ward's incapacity to make financial decisions. If you are the sole petitioner, you must include a written statement from a medical professional who recently assessed the proposed ward. Specific requirements for this medical statement will be elucidated by our proficient lawyers.
The petition should also present substantial evidence of incapacitation to persuade the court of the necessity for a conservatorship. The court may enlist a licensed physician or social worker to evaluate the proposed ward's suitability for conservatorship. Should the petition be denied, a two-year waiting period before reapplication underscores the importance of proper filing.
Step 2: Conservatorship Hearing
Following the submission of your petition, the court schedules a hearing. During this proceeding, you and your legal counsel will field questions from the court regarding your conservatorship request. If convinced of the necessity, the court will issue formal documentation authorizing you to act on behalf of your ward.
Step 3: Ongoing Conservatorship Requirements
Being appointed as a conservator does not conclude the process. You must regularly update the court on the continued necessity of the arrangement. For example, you must submit an asset report within the first 60 days after your appointment, detailing the ward's assets and your property management plan.
Subsequently, an annual asset report must be filed within 60 days of your appointment anniversary. Knowles, Bouziane & Shaffer Law, LLC attorneys are ready to assist you in completing these documents. For a more comprehensive understanding of the conservatorship process, we encourage you to contact us.
Your Next Step – Consult Our Legal Team
Establishing a conservatorship is a complex endeavor, particularly without legal guidance. If you are considering making financial decisions on behalf of a loved one, we invite you to schedule a consultation with our dedicated attorneys at Knowles, Bouziane & Shaffer Law, LLC. Request a Free Consultation
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