Being named as a conservator is one of the most important legal jobs you can have in life. You will be responsible for a variety of things for another person. This person will likely have become incapacitated to the point where he or she cannot make decisions or care for themselves. They will be named as a ward of the court and a conservator will be appointed.
The conservator will be responsible for handling all of the ward’s property, including real estate and other tangible assets. This includes their home and their car. The conservator, if necessary, will be allowed to sell the ward’s car or home to help pay for medical expenses or to help pay for residency in an assisted living facility.
Every year the conservator will be required to prepare an account of every activity he or she has performed on behalf of the ward. This account will help the court understand what has been done, what still needs to be done and if the conservator has operated in the best interest of the ward.
The bills will be paid by the conservator, who will also be responsible for filing the annual tax returns for the ward. If there are any taxes due when the return is filed, the conservator would be responsible for paying those taxes using the finances of the ward.
Being a conservator is a job that you must take seriously. There are financial and medical decisions you will need to make that must always be made in the best interests of the ward of the court. Should you deviate from these responsibilities, you could face serious consequences.