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When conservatorship is granted. Conservatorship is granted by a court when an adult cannot make their own decisions and is incapacitated, at least to some extent. Situations in which this might occur include: A sudden illness that results in legal incapacity, such as a coma.
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.
Conservators are court-appointed individuals who are given the ability to manage another person's finances and personal affairs. They're able to limit the conservatee's spending and, depending on the extent of the conservatorship, any other financial and personal decisions.
CONS: Loss of autonomy: A conservatorship involves the loss of autonomy for the conservatee, who may be subjected to decisions that they would not have made if they were capable of making decisions for themselves.
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.
Why a Conservatorship? When someone is no longer competent to manage his or her own affairs and is no longer able to delegate someone to do it for him/her, a conservator can make the necessary decisions.