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Conservatorship is a legal term referring to the legal responsibilities of a conservator over the affairs of a person who has been deemed gravely disabled by the court and unable to meet their basic needs of food, clothing, and shelter. They are governed by the state's individual laws.
A conservatorship is a legal arrangement in which one or multiple guardians are appointed to make important decisions — often financial or health-related — for someone who is considered unable ...
Learn more about conservatorships and their advantages and disadvantages.
Caring for aging parents or for special needs children or other relatives can add new dimensions to your estate plan. There are various legal and financial issues that may need to be untangled and ...
A conservatorship may also apply to corporations and organizations. Spears was under a probate conservatorship, [citation needed] a type of conservatorship that mostly lasts indefinitely. [24] The conservatorship may be of the "estate", wherein the conservator manages the conservatee's financial affairs and other monetary transactions.
In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. [1]
Continue reading ->The post What is a Conservatorship and How Does It Work? appeared first on SmartAsset Blog. Eight years ago America's baby boomers, people born between 1946 and 1964, began to ...
In common law jurisdictions, a personal representative or legal personal representative is a person appointed by a court to administer the estate of another person. If the estate being administered is that of a deceased person, the personal representative is either an executor if the deceased person left a will or an administrator of an intestate estate. [1]