Conservatorship of the Estate
A Conservator of the Estate is a person appointed by the Probate Court to take control of the property and financial affairs of another person who the court has found is not competent to handle his or her own affairs or who has voluntarily agreed to the appointment of a consvervator of the estate. The court supervises the activities of the conservator of the estate and requires an annual account of all financial activities of the conservator. Upon the death of the conserved person, the conservator of the estate must file a final account and turn over the assets he holds to the executor or administrator of the decedent’s estate. The appointment of a conservator of the estate is a time consuming and expensive process. It can be avoided if a durable power of attorney or a spinging power of attorney had been previously executed or if the assets of the incapable person were previously placed in a revocable intervivos trust also known as a living trust. Attorney Rubino can assist you in taking steps to avoid the need for a conservator of the estate. However, if a conservator of the estate if necessary Attorney Rubino can help you navigate the probate court process in an efficient and cost effective manner.