ElderLawLexington | McClelland & Associates can help if you or a loved one is in need of legal assistance dealing with a conservatorship, curatorship or trustee services.
When a loved one can no longer manage finances and bills or is being taken advantage of financially, his or her family may seek to establish a conservatorship or curatorship. A curator is a legal process in which someone voluntarily asks the court to appoint someone responsible for the person’s finances and asset distribution. At ElderLawLexington | McClelland & Associates, you can work closely with an attorney who is prepared to address all legal issues surrounding the appointment of a curator and ensure they fully understand the practical and fiduciary duties involved with the process.
Conservatorship over another adult is an involuntary jury determination of legal disability which gives the appointee control over the financial assets and holdings of the incapacitated adult. There must be a demonstrated need for the court’s appointment of a conservator that would generally show that the person cannot make his or her own financial decisions and cannot manage money for him or herself. Quite often, an incapacitated person will also need a conservator appointed to manage that person’s money and property. The appointed conservator will not have authority to make decisions regarding personal legal or medical matters.
The duties of a curator or conservator are as follow:
Elder Law Lexington can help the appointed curator or conservator with the following:
Trusts have a wide range of purposes and act as a viable alternative estate-planning tool. Trusts offer beneficiaries and the creators options that wills do not. At ElderLawLexington, our attorneys are highly experienced in trustee services and will take the time to explain all of your options and alternatives. We can help you create a trust instrument to suit your needs. ElderLawLexington can provide legal assistance to trustees and executors. We can help you to understand what a fiduciary duty means with regard to your obligations to the deceased and beneficiaries. We can also assist you in understanding all of the legal steps which must be taken and can take some of those steps on your behalf so you can move through the probate or trust administration process as quickly as possible.
Trust is a contract agreement. There are many types of trusts, each of which is intended to accomplish a particular task or serve a particular function. They can be trusts that exist during a lifetime called "living trusts” or they may not exist until the time of death. Trusts that come into being at the time of death and originate through instructions left by the person in their will are called "testamentary” trusts. Living trusts begin during a lifetime and serve the purpose of having a trustee manage property as designated. This property is used for the care, maintenance and the benefit of the person named as beneficiary. Testamentary trusts do not come into being until a person dies. At that time, the trustee is charged with accepting title to the property for the benefit of a loved one.
Serving as someone’s trustee is a serious undertaking and should not be taken lightly. If you are a trustee and have questions about what your duties and responsibilities are, ElderLawLexington is here to help. Most trust instruments authorize the trustee to use trust assets to hire professional assistance such as attorneys.
If you need the help of a respected law firm that can take decisive action to ensure that your loved one’s medical and financial needs are being met, please contact us at ElderLawLexington | McClelland & Associates. We can help with the conservatorships and trustee services in the least stressful and most time-efficient manner for the family involved.