A. The court can establish a conservatorship for a specific period of time or make it permanent. The conservatorship will end when the individual regains capacity or passes away. Q: Are there any alternatives to conservatorship? A: To protect minors' financial well-being, there are several alt...
When you establish a limited POA, you should outline the scope of your agent’s authority. You may also put a time limit on your agent’s power of attorney. For example, if you plan to travel for a month, your agent may only have the authority to sign a specific contract on your be...
Avoiding Court-Appointed Conservatorships If you become incapacitated without a POA, the court may need to appoint a conservator or guardian to manage your affairs. This process can be time-consuming and costly. The courts may also appoint an individual or entity who does not fully understand or...
A conservatorship is considered a last-resort option by California courts. Although the intention is to assist the elderly person, these procedures are expensive, with complex procedural requirements and many forms to fill out. If other family members object, the process is emotionally charged and ...
It is important to establish the conditions under which the trustee can distribute assets to the beneficiary. The assets that will be held in the trust should be clearly listed and any restrictions on their use should be identified and how the funds can be accessed should be detailed. Formali...
Disclaimer:Using this contact form or any page of MartinWren, P.C.’s website does not establish an attorney-client relationship. Please do not submit any confidential, privileged, or other protected information until and unless you have completed a private consultation with a MartinWren, P.C....
wills can do some things living trusts cannot. For instance, a will is capable of naming an executor and providing instructions on how to pay certain taxes and debts. If you have children who are still minors, a will allows you to establish guardianship for your children and name managers ...
Establish a trust. A trustee manages property held in a trust and is obligated to distribute the assets under the terms of the trust agreement rather than through the probate process. Make accounts payable on death. Bank and other accounts that are payable on death go directly to your designat...
A court order will establish a conservatorship for an individual who is a minor or a person with physical or intellectual disabilities. Individuals needing conservatorship may include people who are suicidal or who struggle with psychosis, dementia, or intellectual disabilities that render the person un...
Can be expensive to establish and administer What Is a Revocable Living Trust? Aliving trustis one established during one's lifetime and can be either revocable or irrevocable. A revocable living trust is often used in estate planning to avoid probate court and fights over the assets of an ...