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A conservatorship may be established after a relative, friend, or public official petitions the court for appointment of a conservator. The petition must contain information on why the individual cannot manage his or her financial affairs or make appropriate decisions concerning his or her personal care.
A temporary conservator is usually appointed for a fixed time period, usually 30 to 60 days. These conservatorships can be of the person, of the estate, or both. The main role of the temporary conservator is to ensure the temporary care, protection, and support of the conservatee.
A guardian is responsible for an elder or minor ward's personal care, providing them with a place to live, and with ensuring their medical needs are met. Guardians make sure that their ward has a place to live, such as the guardian's home, with a caretaker, or in an assisted living or full care facility.
A guardian is also prohibited from making gifts from the ward's estate. Generally, a guardian cannot tie up the ward's money by purchasing real estate, but can lend the money to someone else buying real estate if the property is sufficient security for the loan.
A legal guardian is someone who has the legal authority to take care of a child should anything happen to the parents. Guardians are responsible for taking all parental decisions and can also be responsible for managing a child's property and inheritance.
The guardian is responsible for deciding where the ward's liquid assets will be held and who will be responsible for overseeing the investments. If the ward owns any real estate, the guardian is responsible for paying all of the bills for maintaining the property such as taxes, mortgages and insurance.
If a child needs a legal guardian during a parent's lifetime, the parent or any other interested person must file a petition to have the court appoint a guardian. If you're not the parent, you can file a petition requesting that the court appoint you as the child's guardian.
A conservatorship is a court case where a judge appoints a responsible person or organization (called the conservator) to care for another adult (called the conservatee) who cannot care for himself or herself or manage his or her own finances.
Under certain circumstances, a Guardian may be personally liable for improper distributions, and may be compelled by a Court to make a distribution at the Ward's or Interested Person's request.