Guardianships & Conservatorships
If you have minor children or an aging loved one, you need to think about what would happen to them should the unthinkable happen. However, having a legal expert guide you through this process can give you greater peace of mind. The seasoned and compassionate attorneys at LoPrete, Lyneis & Carnwath, P.C., are committed to helping you establish guardianships or conservatorships to keep your loved ones as safe as possible, no matter what the future holds.
How Guardianships and Conservatorships Work
A guardian is someone you name in your will to look after and manage your minor child’s needs or to make decisions for an aging parent when you are no longer capable of doing so yourself. With a conservatorship, you can appoint someone to manage the financial affairs of a minor or an adult who cannot do it themselves. For example, if you have an adult child who is special needs or a parent who has Alzheimer’s, you can petition the court for the appointment of a conservator. You’ll need to demonstrate that this person cannot make their own decisions regarding their personal care and finances.
The guardian must report to the court on an annual basis as to the condition of the ward. A conservator must file an inventory itemizing all of the assets under their control and file an annual account reflecting all receipts, disbursements, and the assets on hand at the end of the accounting year. Interested parties must be provided with a copy of all documents, and court approval of the annual account of the conservator must be obtained.
Other Estate Planning Considerations
If you have minor children, you will need to name a guardian for them in your will. However, if you are concerned about a vulnerable adult, there may be other options. They might not need a conservatorship set up if they have a trust, power of attorney, or other documents and legal processes in place already. When it comes to estate planning, it’s always best to start the process sooner rather than later. We’re ready to listen to your concerns and assess your situation to determine the most appropriate estate planning tools to support your goals.
Contact Us Now to Discuss Your Guardianship and Conservatorship Needs
Do you need help with guardianships and conservatorships in Michigan? We provide assistance in the appointment of guardians or conservators for both adults and minors, as well as assistance in complying with their future fiduciary duties. Let us help you enjoy the greater peace of mind that comes with knowing your loved ones will be protected and well taken care of, even after you’re gone.
Need help with guardianships and conservatorships in Bloomfield Hills? Do you have legal questions? Then contact LoPrete, Lyneis & Carnwath, P.C. at (248) 594-5770 to get started.
Get help with guardianships and conservatorships in Michigan today. You can guarantee that your child or loved one will be taken care of and looked after, no matter what the future holds.
