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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 34262
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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Estate Law

What is consevership

what is consevership
Submitted: 1 year ago.
Category: Estate Law
Ask Your Own Estate Law Question
replied 1 year ago.
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.
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A conservatorship is when someone is appointed as a legal guardian for another person so as to be able to manage their finances and sometimes health care if the person (the ward) is unable to manage their own affairs.
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It is done by the conservator filing a probate court case for a conservatorship for the proposed ward and the court will require the ward to be evaluated to determine if they need a conservator. This is usually through medical records and doctor testimony that the person is medically incompetent to manage their own affairs.
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As for a life estate, that is when an owner of property transfers the property to someone else, but reserves the right to live in and use the property for the rest of their life. When the "life tenant" passes, the property becomes the sole property of the "remainderman".
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thanks
Barrister

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