Conservatorship

The court may grant all or some of the Powers of the Person which are:

• Power to pay for reasonable care, support, maintenance and education for the protected person.
• Power to pay for all just and lawful debts of the protected person from the protected person's estate.
• Power to take control of and manage the protected person estate, collect all debts and claims on behalf of the protected person and to prudently invest funds not needed for debts.
• Power to approve or withhold approval of contracts.
• Power to apply for government benefits on behalf of the protected person.

In addition, the conservator may petition the court for approval to sell real estate, institute a law suit or facilitate an estate plan for the protected person.

A Conservatorship is under court supervision and the appointed Conservator is required to file an inventory of the protected person assets. Then each year the Conservator is required to file an accounting with the court which reflects all income and expenses of the protected person. A court hearing is required the first year and every three years thereafter.

Less restrictive alternatives to Conservatorship are:

• Durable Power of Attorney
• Representative Payee
• Joint Accounts
• Trust
• Family Member

Senior Options, Inc. Kim Tophen P.O. Box 49097 Blaine, MN 55449

Bonded and Insured Phone: 763-792-4472 Fax: 763-792-4492 Kim@SeniorOptionsInc.com