Families across Michigan are faced with the question of how to care for their elders.
There may be times where an elderly person may not be able to make complex decisions for themselves or may need someone to help them through legal proceedings. Assistance in understanding mortgage or loan documents, managing investments, completing tax forms and seeking legal remedies are prime examples of such actions. In these situations, a Conservatorship would be very helpful in protecting vulnerable adults.
Conservatorships help protect vulnerable adults who cannot resist financial pressure from others, including zealous salespeople, creditors and family members. Conservatorships can also help elders who are being taken advantage of financially or who are quickly losing assets due to mismanagement.
A Conservator may also be empowered to handle an individual’s financial matters and make decisions about property and assets owned by a minor who has assets that need protecting. If a minor receives any type of settlement or financial windfall they must have a Conservator appointed for them. Most often and in the best case scenarios, this would be a parent. However, in the unfortunate event that there is not a parent that is either available, responsible or has passed away, the Court can appoint a Conservator based upon the Petitioner’s request. If a minor is 14 or older he/she may help in the choice of who becomes their Conservator.
To schedule a private consultation with a licensed attorney, call (231) 903-0378.