Do You Need Conservatorship or Guardianship Services?
While conservatorship and guardianship are similar, they serve different purposes. The one you choose depends on the situation. In general, conservatorships are for adults with disabilities or incapacities who are unable to effectively manage their affairs.
On the other hand, guardianship nomination in a will designates an individual to care for a minor if the minor’s parents are unable to do so. Financial guardianships are a specific type of guardianship that can protect a minor’s inherited assets.
Conservatorships are established by the court when a loved one can no longer care for themselves. The court appoints a person to take charge of the disabled person’s healthcare and financial affairs and authorizes the conservator to act in the disabled person’s best interests. Conservatorships are common when an adult no longer has the mental capacity to make sound decisions about their life.
A guardianship nomination in a will formally designates an individual to serve as a guardian for a minor. The court will then consider this individual for appointment. Financial guardianship appoints an individual to care for the financial affairs of a minor who inherits assets. The person appointed to care for the minor’s finances will manage assets, invest funds, and handle taxes until the minor reaches adulthood.
Our attorneys for conservatorship and guardianship in Nashville can discuss the differences and provide the services you require.