A court-appointed conservator of an estate is a person named to handle the financial affairs for an incapacitated adult or minor child. This includes activities such as:
- Paying monthly bills
- Managing investments
- Purchasing and selling large ticket items like a car, home or rental property
- Filing tax returns and other financial forms
A conservator is not responsible for caring for the individual on a personal level by handling guardianship duties such as making healthcare, educational or social engagement decisions.
In contrast a fiduciary is a person or group of individuals who can be court appointed or named in advance in a will, trust or power of attorney) to handle all of these duties – and more – under one umbrella. A fiduciary may be called upon to provide:
- Probate administration
- Financial affair management
- Personal care coordination
- Help with daily activities
- Health and well-being support
- Power of attorney for financial and advanced health care directives
- Estate settlement
- Guardianship for minor children
- And more
For obvious reasons, the person or persons named as fiduciaries must be honorable and highly trustworthy. The Colorado estate planning lawyers at Brown & Crona, LLC can draft documents to name your fiduciaries or advise fiduciaries who are currently serving. If you are interested in having estate planning documents prepared to name a fiduciary or are currently serving as a fiduciary and need guidance, please contact us today to request an appointment: (303) 339-3750 or visit our website.
