Guardianships and conservatorships in Florida are similar court rulings. They differ in that guardianship tends to be for persons under the age of 18. Conservatorships, on the other hand, tend to be put in place for adults. Anytime someone is unable to manage an estate he or she owns, the courts will choose a guardian or conservator for this role. A conservatorship has pros and cons that are based on each specific case. Oftentimes, the cons never come to fruition.
When it’s necessary
Conservatorships are useful when they’re necessary. A person who sustains a brain injury may lose the ability to handle his or her own money. A conservator, in this case, checks on this person to ensure that his or her basic needs are met. Additionally, when such a person wants money, the conservator must decide to grant or deny the request.
When it’s overboard
Some conservatorships, in rare cases, are executed for people who don’t entirely need them. Such instances can be stressful for the person relying on the conservator. The conservator assigned to a specific person may be extreme, resulting in the conservatee being abused. A judge will have to make a ruling regarding this.
It manages, yet exposes, assets
Conservatorships, when set in the right conditions, can ensure that someone’s assets are protected. Conservatorships don’t all remain active indefinitely. Those who need temporary assistance in handling their money will find their money intact later. However, it is possible for a conservator to use his or her fiduciary role to benefit him or herself.
Conservatorships in Florida
A conservatorship can be activated against the will of a conservatee. A judge’s ruling, however, doesn’t suggest that this gives puts a conservatee at a disadvantage. Making sure that these arrangements are effective is about, ultimately, holding the conservator accountable.