Virginia Conservatorships To Help Your Parents
When a parent has not done comprehensive estate planning and can no longer handle his or her financial affairs, a conservator may need to be appointed to handle the parent’s finances. Often the conservator is a trusted family member. However, sometimes there is friction within the family, or no family member is in a position to handle the parent’s assets and responsibilities associated with a conservatorship. In those cases, a professional conservator may be the better choice. Selecting the right person or institution, and getting that person appointed by the court, is complicated. Once the conservator is appointed, that person has certain duties and responsibilities, and is required to report to the court.