Should a Florida resident become unable to make their own financial and personal decisions, their family might consider starting a conservatorship. A conservatorship grants a person, known as the conservator, the legal responsibility of making all their decisions financial and otherwise.
How do you start a conservatorship?
Relatives, friends, or even public officials can petition the court to allow a conservator to be appointed for a person who is deemed unable to make their own decisions. This petition must include reasons why the person is unable to make their own decisions.
These decisions relate not only to financial affairs but also to things relating to their own personal care. A court investigator will interview the person to determine if they are really incapacitated enough to need a conservator.
After a decision has been made, the court will appoint a conservator based on the best interests of that person as well as all evidence presented to the court. The cost of starting a conservatorship can be high but can be worth it for the advantages of a conservatorship.
What are the pros and cons of a conservatorship?
A conservatorship can be costly, but it offers more freedoms to the conservatee than other management methods. A conservator can act as a neutral party when family or friends can’t make a decision, as their only focus is what’s best for the conservatee.
A conservatorship becomes a matter of public record, which can be hard for anyone who values their privacy. In addition, the individual entering the conservatorship will lose most if not all of their independence.
It’s also a costly process that can take up a lot of your time. This is especially true for any conservatee with health issues or a lot of assets, however, it can be worth it to allow the conservatee to live a more comfortable life.