There are only a few ways individuals end up wards of the court. They can become incapacitated. They might be under age children with no immediate adult family members to take them in. It is unusual for a conservatorship Rancho Cucamonga courts approve to involve someone without assets of a substantial nature. Conservators and guardians are legally charged with making decisions in the best interests of wards in their care.
One of the most important things conservators have to do is handle allocating liquid assets. Liquid assets are normally cash or items one can easily turn into cash. Conservators have to decide who will be responsible for their investments. This is a job that traditionally is handled by the conservator or the financial advisor chosen by the conservator. Conservators must also decide how to handle the personal property and real estate that his ward owns.
There may have to be a decision made to sell the individual's current vehicle in order to purchase a van that can transport a wheelchair bound ward for example. The house a ward was living in may no longer be compatible with his situation. In this case, the guardian can sell it and purchase accommodations that are suited to the person's situation. The guardian might also decide to sell the home, or any rental properties owned, in order to pay for assisted living or nursing home care.
A conservator has the power to decide if the ward will continue to live in the family home or would be better served in some skilled nursing facility. In either case, it is the conservator who will be responsible for making the house payments, paying for nursing home care, and handling any other financial obligations of his ward. That includes making sure taxes are paid in full and on time.
Conservators are required to answer to the courts. Every year they must prepare a detailed accounting showing how they either invested or sold off assets belonging to their wards. If their ward is mentally incapacitated, the guardian must submit a physician's report.
Medical reports have to detail a dependent's condition, both mentally and physically, and if the services of a guardian are still deemed necessary. There must be a plan that addresses the ongoing treatment for the ward. Courts must see everything done in the past year and what the next year's plan is.
It is necessary for conservators to get court approval before they make some decisions. It is up to the state to determine what exactly must be presented to a court for approval. In Florida, for example, a conservator must petition the court before he can sell any real estate owned by his ward.
Wards who are minors normally become independent of their conservators as soon as they reach the age of 18 or 21. When this occurs, a conservator has to file a final accounting of their ward's assets to end the conservatorship. All assets become the responsibility of the ward. The conservator is relieved of his duties at this point.
One of the most important things conservators have to do is handle allocating liquid assets. Liquid assets are normally cash or items one can easily turn into cash. Conservators have to decide who will be responsible for their investments. This is a job that traditionally is handled by the conservator or the financial advisor chosen by the conservator. Conservators must also decide how to handle the personal property and real estate that his ward owns.
There may have to be a decision made to sell the individual's current vehicle in order to purchase a van that can transport a wheelchair bound ward for example. The house a ward was living in may no longer be compatible with his situation. In this case, the guardian can sell it and purchase accommodations that are suited to the person's situation. The guardian might also decide to sell the home, or any rental properties owned, in order to pay for assisted living or nursing home care.
A conservator has the power to decide if the ward will continue to live in the family home or would be better served in some skilled nursing facility. In either case, it is the conservator who will be responsible for making the house payments, paying for nursing home care, and handling any other financial obligations of his ward. That includes making sure taxes are paid in full and on time.
Conservators are required to answer to the courts. Every year they must prepare a detailed accounting showing how they either invested or sold off assets belonging to their wards. If their ward is mentally incapacitated, the guardian must submit a physician's report.
Medical reports have to detail a dependent's condition, both mentally and physically, and if the services of a guardian are still deemed necessary. There must be a plan that addresses the ongoing treatment for the ward. Courts must see everything done in the past year and what the next year's plan is.
It is necessary for conservators to get court approval before they make some decisions. It is up to the state to determine what exactly must be presented to a court for approval. In Florida, for example, a conservator must petition the court before he can sell any real estate owned by his ward.
Wards who are minors normally become independent of their conservators as soon as they reach the age of 18 or 21. When this occurs, a conservator has to file a final accounting of their ward's assets to end the conservatorship. All assets become the responsibility of the ward. The conservator is relieved of his duties at this point.
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