The word “conservatorship” has become household vocabulary lately, specifically due to the high-profile legal battle over the conservatorship of Britney Spears. Her 13-year conservatorship has many people wondering … how long does a conservatorship last?
A conservator is a person appointed by the court to oversee the financial assets of a minor or incapacitated adult. The conservator must make financial decisions and act in the best interest of the protected person. Responsibilities of the conservator can include but are not limited to, paying bills and other debts, account administration, managing investments, filing taxes, and using funds to purchase or sell real estate property.
A conservatorship for an incapacitated adult can end in one of two ways; either the protected person dies, or the court approves a petition for termination. The protected person will need to demonstrate to the court that they are of sound mind and can resume making appropriate financial decisions on their own.
In the case of a conservatorship of a minor in Colorado, the conservatorship will automatically end when the minor turns 21 years old. This assumes that the only reason the conservatorship existed was because of the minor’s age. If a minor turns 21 but the conservatorship was established because they were incapacitated and/or unable to make financial decisions, then the conservatorship may continue.
How long does a conservatorship last? As you can see, it depends. For minors who are otherwise of sound mind, the conservatorship ends when they turn 21. For an incapacitated adult, it could be a brief period (i.e. they recover following a stroke or brain injury), or it could be for the rest of their life. There are many factors at play, and what goes for one conservatorship will not be the same for the next.
Do you need to appoint a conservator, modify a conservatorship, or remove a conservator? The lawyers at Brown & Crona, LLC can help you through this intricate legal process. Contact us at (303) 339-3750 or send us a message online to meet with our team members.