When planning for the future, it’s important to understand how to protect loved ones who may not be able to manage their own affairs. Two important legal tools can help with this: guardianship and conservatorship. While both serve to support individuals who need help, they address different aspects of care and responsibility.
Guardianship: taking care of personal needs
A guardianship is a legal arrangement that includes a court-appointed guardian for another person, the ward. A ward is a person who can’t handle their personal or medical needs due to age, illness, or disability. The guardian is responsible for making decisions about the ward’s health care, living arrangements, and daily needs.
Conservatorship: handling financial matters
A conservatorship focuses only on managing the financial affairs of someone who can’t do it themselves. When a person is not able to handle their finances due to age, disability, or illness, a court can appoint a conservator. The conservator will manage and protect the conservatee’s finances, assets, and investments.
Temporary vs. permanent guardianship and conservatorship
It is important to know that guardianship and conservatorship can be temporary or permanent, depending on the individual’s circumstances. For example, a temporary guardianship might be necessary if there is a medical crisis. However, permanent guardianship may be needed for long-term care.
Planning for the future with confidence
Choosing between guardianship and conservatorship is important because it affects one’s well-being. It is helpful for families to understand the differences to make informed choices that offer security and peace of mind for the future while setting up a solid estate plan.