Just as is the case elsewhere across the country, the average age of those living here in California is rising. The sheer number of baby boomers seems to drive that rise in the average age. It also drives a rise in the necessity of conservatorships. People may be living longer, but they are also experiencing mental and physical conditions that make them unable to handle their own affairs any longer.
When an elderly California resident reaches this point, a family member may recognize that something has to be done. If able, a family member may apply to serve as conservator for an ailing loved one. However, a family member does not have to serve. It is possible for the court to appoint someone who is not related to the individual needing assistance.
However, in either case, the court will more than likely require a bond, which functions as an insurance policy of sorts against losses caused by the conservator. In addition, the court will want some oversight of the conservator and the financial aspects of the conservatorship. For instance, an Inventory and Appraisal of the ailing individual’s property must be filed within 90 days of a conservator’s appointment, along with a General Plan. Then, each year, the court will want an update and review of the activities of the previous year.
Conservatorships serve crucial importance for ailing and elderly family members. Making sure that everything goes according to plan and complies with the court’s requirements helps ensure that a loved one gets the care and help needed. In many cases, it would be advisable to consult with an attorney who can provide the necessary advice and assistance to make it a success.