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Conservator of the Estate
Conservator of EstateA conservatorship is a protective court proceeding that may become necessary when adults can no longer care for themselves and or manage their own finances. Once a conservatorship is granted it creates a court ordered conservatorship between the protected person (the conservatee) and the responsible person (the conservator).
A conservatorship provides legal authorization for the conservator - usually a spouse or domestic partner, family member, close friend, or hired professional (called a professional fiduciary) - to make decisions for the benefit of the protected person. It restricts the conservatee’s powers over his or her own personal care and/or financial decisions. Under normal circumstances, a conservatorship proceeding is useful when the proposed conservatee is mentally incapable of understanding their surroundings, has dementia or Alzheimer’s, or is unable to resist fraud or undue influence. Armed with the appropriate court order, a conservatorship is able to restrict the proposed conservatee from entering into a contract and give the appropriate authority to the conservator to place the vulnerable person in a secure facility where their mental, as well as financial interests, are protected.
Conservatorship of the Estate
A conservatorship of the estate can be granted when a person is substantially unable to manage his or her own financial resources, resist fraud or undue influence. It may also be used as a tool to permit Medi-Cal eligibility planning, apply for other governmental benefits such as social security, and help preserve assets.
If a conservatorship of the estate is needed, the conservator would have the legal authority to make financial decisions for the protected person and to sign checks and other financial documents in that capacity. The conservator would have the legal obligation to make all financial decision in the best interest of the conservatee alone and would have to file yearly accountings with the Court.- Identifying and collecting assets belonging to the Conservatee
- Collecting and handling income of the Conservatee
- Overseeing the investment of the Conservatee’s assets and when appropriate utilizing the services of an Investment Advisor
- Working with the Conservatee or family member to create a monthly budget
- Selling assets when appropriate or necessary
- Overseeing the maintenance of real estate
- Filing periodic accountings of the financial activity of the conservatorship estate with the court, as required by law
- Arranging for the preparation and filing of the Conservatee’s annual income tax returns
- Addressing other financial, legal and tax issues that might arise
Sometimes….
A conservator may wish to petition the court for a conservatorship of the person and estate. This is usually required when a protected person cannot manage their own financial affairs AND is also unable to provide for his own personal needs for health, maintenance, and support. There can be a separate conservator of the person and a financial conservator, or a single responsible person can be the conservator of both. -
Conservator of the Person
Conservator of the PersonA conservatorship is a protective court proceeding that may become necessary when adults can no longer care for themselves and or manage their own finances. Once a conservatorship is granted it creates a court ordered conservatorship between the protected person (the conservatee) and the responsible person (the conservator).
A conservatorship provides legal authorization for the conservator - usually a spouse or domestic partner, family member, close friend, or hired professional (called a professional fiduciary) - to make decisions for the benefit of the protected person. It restricts the conservatee’s powers over his or her own personal care and/or financial decisions. Under normal circumstances, a conservatorship proceeding is useful when the proposed conservatee is mentally incapable of understanding their surroundings, has dementia or Alzheimer’s, or is unable to resist fraud or undue influence. Armed with the appropriate court order, a conservatorship is able to restrict the proposed conservatee from entering into a contract and give the appropriate authority to the conservator to place the vulnerable person in a secure facility where their mental, as well as financial interests, are protected.
Conservatorship of the Person
A court can order a conservatorship of the person for someone whose inability to properly provide for their own personal needs for physical health, medical care, food, clothing or shelter, poses a significant threat of self injury or harm.
A conservator of the person can be given authority to decide where the proposed conservatee will reside, assuming that it is the least restrictive alternative that meets that individual’ s needs. In essence, the conservator is given the care, custody and control of the conservatee. Additionally, it could also allow the conservator to obtain medical information and communicate with health care providers to ensure that the protected person’ s medical needs are being met.
Sometimes….
A conservator may wish to petition the court for a conservatorship of the person and estate. This is usually required when a protected person cannot manage their own financial affairs AND is also unable to provide for his own personal needs for health, maintenance, and support. There can be a separate conservator of the person and a financial conservator, or a single responsible person can be the conservator of both. -
Administrator / Executor of Decedent’s Estate
Administrator/Executor of Decedent’s EstateAs an Administrator or Executor we will:
- Identify, secure and take possession of the decedent’s assets
- Sell assets as necessary or required
- Verify outstanding debts
- Prepare an inventory of all of the assets of the decedent’s estate
- Identify and address all of the decedent’s income tax liabilities
- Determine applicability of federal estate tax laws
- Periodically communicate with estate beneficiaries regarding status and progress of estate administration
- Prepare an accounting of the estate administration
- Pursue or defend legal actions involving the decedent
- Address other financial, legal and tax issues that might arise
- Arrange for the distribution of assets in accordance with the terms of decedent’s will, if any, and in the manner proved by law
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Trustee / Sucessor Trustee
Trustee / Sucessor TrusteeWhether you are the named Successor Trustee of a deceased person’s trust or a beneficiary, you have rights and obligations under the California Probate Code. Though trust administrations are private matters, the Successor Trustee is obligated to give formal statutory notice of the administration. Heirs and beneficiaries are due such notice and have the right to review the trust documents when so requested.
Generally, 120 days must pass before trust distributions are made. During this waiting period, the assets of the trust are collected and the decedent’s bills and obligations are satisfied. After the 120 days have passed, the Successor Trustee generally circulates an accounting of the administration and a proposed final distribution.
Trust administrations can be emotionally draining for both the heirs and Successor Trustee. Despite best efforts, there is often a lack of understanding of the obligations, duties and timeframe of a trust administration. Financial interests become mixed with family or personal relationships, all in the backdrop of mourning the loss of a family member or other loved one.
We are qualified to act as Trustee of numerous types of trusts established by one or more persons (the Trustor) including Revocable Living Trusts, Irrevocable Trusts and Special Needs Trusts.
Specifically, we will:- Identify, secure and take possession of trust assets
- Managing rental properties held in trust
- Selling assets as necessary or required
- Verifying outstanding debts
- In the event of the trustor's death, identify and address all of the decedent’s outstanding income tax liabilities
- Determine applicability of federal estate tax laws, and hire appropriate professionals
- Periodically communicate with trust beneficiaries regarding status and progress of trust administration
- Prepare accountings of the trust’s financial activities
- Pursue or defend legal actions involving the trust
- Address other financial, legal and tax issues that might arise
- Arrange for the distribution of assets in accordance with the terms of the trust
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Agent Under Power of Attorney for Asset Management
Agent Under Power of Attorney
for Asset ManagementThe purpose of a Power of Attorney for finances is to provide a simple, reliable and cost efficient manner for another person to manage your financial affairs when you are unavailable, incapacitated, or choose not to.
The principal of a Power of Attorney, you -- not the court – select a trusted individual who shall act on your behalf should the need arise. In the absence of a validly executed Power of Attorney for finances, should you become incapacitated, the only remaining remedy to ensure your assets are used for your care and support is generally a formal Probate petition for a Conservatorship of the Estate. -
Agent Under Power of Attorney for Healthcare
Agent Under Power of Attorney
for HealthcareWhen you are unable to communicate your medical wishes, a properly executed Advance Healthcare Directive provides guidance to – and empowers – your agent to make decisions on your behalf. With the introduction of the Health Information Privacy and Portability Act (HIPPA), a current Advance Healthcare Directive is required for healthcare providers to share information as to the nature and treatment of your health condition to your named agent.
Advance Healthcare Directives are only effective when the principal cannot communicate in any manner and a pressing medical decision needs to be made. Instead of requiring the filing of a Conservatorship of the Person in the Probate Division of the Superior Court, this simple document allows you to identify your preferred medical treatment as well as who will be legally empowered to see that your wishes are respected.
Specific tasks include:- Determine appropriate living situation for the Principal giving priority to the Principal’s preferences
- Arrange for in-home care and assistance for the Principal in their home
- Oversee the quality of care the Principal receive if living in a care facility
- Supervise and train in-home caregivers
- Make decisions concerning and be an advocate on health care issues in accordance with the Principal’s stated wishes and best interests
- Arrange for home maintenance
- Inspect home to insure the Principal’s safety and comfort and arrange for modifications to home as needed to insure the Principal’s safety and comfort
- Arrange, as required, for personal needs such as housekeeping services, grocery shopping, transportation to medical appointments, visits with family and friends, social outings and entertainment
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Guardian Ships of minors and adults.
Guardianships of
Minors and Adults- Collect and invest the assets belonging to the minor
- Pay authorized expenses for the minor
- File periodic accountings of the financial activity of the guardianship estate, as required by law
- Arrange for the preparation and filing of the minor’s annual income tax returns
- Pursue or defend legal actions on behalf of the minor
- Address other financial, legal and tax issues that might arise
300 Carlsbad Village Drive
Suite 108A270
Carlsbad, California 92008
PHONE: (760) 295 3812
FAX: (760) 734-1142
Affiliates
The Organizer Fiduciary Services,
is a proud affiliate of
Finest City Fiduciary
"We strive to treat each individual compassionately, with respect for their dignity as a person."
