Conservatorship

/Conservatorship

Differences between a Conservator and a Guardian in Illinois

By | September 20th, 2018|Conservatorship, Guardianship|

In the State of Illinois, a conservator and a guardian are very similar roles. There are, however, important differences that you should consider when deciding what is the best role for your specific case. Seeking a conservatorship and a guardianship can both be useful under the following circumstances: In the event of a sudden illness In the event of an injury Due to a disability For each of these circumstances, the debilitating and restricting matter would place a person with the inability to make his or her own decisions about his or her personal affairs. This could include his or [...]

Important Factors When Obtaining a Power of Attorney in Illinois

By | March 16th, 2018|Conservatorship, Estate Planning, Probate, Wills & Trusts|

Obtaining a power of attorney in the State of Illinois can give another person, agent, or party the legal right to make financial or health care decisions on your behalf in the event that your because incapacitated to make these on your own. When a power of attorney is obtained, this power can be flexible and it can also be valid for an indefinite and definite period of time. Factors To Consider When Assigned a Power of Attorney While a power of attorney can be formulated without the assistance of a lawyer, it can nonetheless be beneficial to obtain the [...]

What is Meant by a Durable Power of Attorney?

By | January 9th, 2018|Conservatorship, Estate Planning, Guardianship|

Planning for your future is not just about getting your affairs in order when you are in good health, but also when you become mentally disabled. You should make plans regarding who should have the power to make financial and medical decisions if you become incapacitated. This is where a power of attorney comes into play. Assigning a power of attorney will ensure that your affairs are handled by a competent person in the event you are not able to manage on your own due to old age or infirmity. A lot of people get confused about the term 'durable' [...]

The Difference Between a Conservatorship and Guardianship

By | December 18th, 2017|Conservatorship, Estate Planning, Guardianship|

In case an individual is unable to make life's important decisions, the relatives or friends may request the court to appoint a conservator or a guardianship. The courts assess the severity of the person's condition and make decisions accordingly. The court generally appoints a conservator or guardian for minors, mentally handicapped, or incapacitated persons. But what do these terms actually mean? And are there any differences between the two? You will find out the answers to the questions here in this article. What is Conservatorship? A conservatorship is a legal relationship between a minor or incapacitated individual who cannot take [...]

Conservatorship Process in Illinois Explained

By | October 9th, 2017|Conservatorship, Estate Planning|

A court-appointed conservator manages the financial affairs of a person who has become incapacitated due to any reason. The conservator supervises the financial matters on behalf of the conservatee who has suffered a debilitating injury, or disease such as dementia or Alzheimer's. Not many people are aware of what conservatorship is and how it affects their estate. Understanding the conservatorship process is important to make the right decisions regarding estate planning. Here, we will explain the process of creating a conservatorship in Illinois and will discuss about its pros and cons. How is a Conservatorship Created? In Illinois, a conservatorship [...]