The Massachusetts Order Regarding Conservators Financial Plan is a legal document that outlines the duties, responsibilities, and financial obligations of a conservator in the Commonwealth of Massachusetts. This document is used to ensure that the conservator is acting in the best interests of the conservative, while providing a detailed description of the conservator's financial plan. The order is typically issued by the probate court, which oversees the conservatorship. The Massachusetts Order Regarding Conservators Financial Plan is composed of three parts: the Statement of Facts, the Order, and the Financial Plan. The Statement of Facts outlines the current financial situation of the conservative, including all assets, liabilities, incomes, and expenses. The Order outlines the duties of the conservator and any restrictions that have been imposed on the conservator's actions. Finally, the Financial Plan outlines the conservator's plan for managing the conservative's financial affairs. There are two types of Massachusetts Order Regarding Conservators Financial Plan. The first is a temporary order, which is issued when the conservator is appointed and the second is a permanent order, which is issued after the conservator has completed the financial plan. The temporary order outlines the duties of the conservator and the financial plan, while the permanent order provides a detailed description of the financial plan.
Massachusetts Order Regarding Conservators Financial Plan
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FAQ
The court will likely remove you as conservator and appoint a successor. There are other situations that may end your conservatorship, such as the death of your ward or if a court finds there is good cause to terminate your duties.
The court may appoint a Conservator to make financial decisions on the individual's behalf. With a Power of Attorney in place, the Attorney-in-Fact has the legal authority to make financial decisions without the burdens of the court process of appointing a conservator.
Any power of attorney automatically ends at your death. A durable POA also ends if: You revoke it. As long as you are mentally competent, you can revoke your document at any time.
Conservatorship is a legal process in which the Massachusetts Probate and Family Court appoints a person?called a Conservator?to make certain decisions on behalf of someone who is mentally or physically unable to care for themselves.
GUARDIANSHIP AND CONSERVATORSHIP Guardians may be appointed for protection of the person only. A conservator must be appointed to protect property and business affairs of a person in need of protection.
General Power of Attorney This person is your legal representative who can pay your bills, make financial transactions, and sign legal documents on your behalf. This type of Power of Attorney is utilized while the principal is competent but may need help with financial matters.
A conservator's duties and responsibilities to the adult or minor include the following: Collect and manage the assets of the protected person's estate. Pay bills and taxes. Enter into contracts. Oversee the maintenance of real property. Maintain business operations. Pay for living and medical expenses.
A power of attorney document allows someone that you select (your ?attorney-in-fact? or ?agent?) to act on your behalf in financial matters. It is common for a deploying servicemember to sign a power of attorney document that assigns a family member or friend as servicemember's attorney-in-fact.