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The pros are that a conservatorship provides the greatest flexibility in being able to manage the changing needs of the subject person, arranging long term care, housing and being able to contract with providers as needed. As for the cons, conservatorships are time-consuming and expensive.
This is because conservatorship agreements are complex legal arrangements that offer details for the care of individuals who are classified as not capable of defending themselves. An experienced elder law attorney can help you draft, review, and submit a petition to the appropriate court for their approval.
A conservatorship can ensure that a loved one's personal finances and healthcare issues are properly handled. This is done only after that person is no longer able to make good decisions about such matters. It's best to discuss that option with the potential conservatee before a conservatorship becomes necessary.
Conservatorship is a legal status in which a court appoints a person to manage the financial and personal affairs of a minor or incapacitated person. A conservator may also serve as a guardian who is responsible for establishing and monitoring the physical care of the individual and managing their living arrangements.
?Conservatorships are only granted by the court for adults with a mental disorder as listed in the ?Diagnostic and Statistical Manual of Mental Disorders (DSM IV) and who are gravely disabled. ?Conservatorships are granted for people with: ?Schizophrenia. ????Bi-Polar disorder (manic depression)