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A conservator of the estate is appointed to supervise the financial affairs of an adult who is found by the court to be incapable of doing so themselves. Financial conservatorships may require the conservator to manage the conservatee's assets, income and public assistance benefits.
In California, this legal arrangement is called a conservatorship. Conservatorships are established for impaired adults, most often older people. Adults who are developmentally disabled or the victims of a catastrophic illness or accident also may have a conservatorship.
The responsibility of a conservator is a paid role where funds from the incapacitated individual will be paid to the conservator for the management of the estate or their healthcare.
In most instances, the powers of a limited conservatorship of the person allow the conservator to arrange for the housing, health care, meals, personal care, housekeeping, transportation, recreation, and education of the conservatee.
What is a conservator? A conservator is a person appointed by the court to take care of someone's finances when he or she cannot make these types of decisions because of an illness, injury, or disability.
(a) A conservatorship terminates upon the death of the protected person or upon order of the court. Unless created for reasons other than that the protected person is a minor, a conservatorship created for a minor also terminates when the protected person attains majority or is emancipated.
The person who believes another needs a conservator must file a petition with the court in the county where the ward lives. The petition must include a report by a doctor, psychologist, or senior psychological examiner that explains the proposed ward's medical condition.
How much does a Conservator make in Tennessee? As of , the average annual pay for a Conservator in Tennessee is $53,582 a year. Just in case you need a simple salary calculator, that works out to be approximately $25.76 an hour. This is the equivalent of $1,030/week or $4,465/month.
How long does it take? If the conservatorship is uncontested, it usually takes about four to eight weeks.
A limited conservator may ask the court to give you the following 7 powers: Fix the conservatee's residence or dwelling. Access the conservatee's confidential records or paper. Consent or withhold consent to marriage on behalf of the conservatee.