Like many states, Colorado recognizes the need to assist and protect individuals who cannot manage their finances due to incapacity, illness, or other limiting circumstances.
Such individuals might be vulnerable to fraud or undue influence or unable to make informed decisions about their property and finances.
In Colorado, when a person cannot manage their financial affairs, a conservatorship may be necessary. Here, we will delve into the intricacies of conservatorship proceedings in Colorado, from inception to termination and everything in between.
What is a Conservatorship?
A conservatorship is a legal relationship where the court appoints an individual or institution (the conservator) to manage the financial affairs of someone who cannot do so for themselves (known as the protected person). This is distinct from guardianship, which typically pertains to personal and health-related decisions but excludes control over financial assets.
When is a Conservatorship Needed?
The court will only grant a conservatorship if it’s shown by clear and convincing evidence that the individual cannot effectively manage or apply their property to necessary expenses, and that the individual’s property will be wasted or dissipated unless proper management is provided.
The Process
- Petition: The process begins when an interested party files a petition in the county’s probate court where the potential protected person resides. The petition outlines the reasons why the individual needs a conservator.
- Notice: Upon receiving the petition, the court will schedule a hearing, and notices of this hearing are provided to interested parties, including the proposed protected person.
- Appointment of Guardian ad Litem: In some cases, the court might appoint a guardian ad litem to represent and protect the interests of the proposed protected person. These are typically used where the protected person is either a minor or legally incompetent.
- Hearing: At the hearing, evidence is presented, and the judge determines if a conservatorship is indeed necessary.
- Appointment: If the court favors the conservatorship, it will issue Letters of Conservatorship, which grants the conservator legal authority over the protected person’s financial affairs.
- Reporting: The conservator will be obligated to periodically report to the court to provide updates on the financial status and wellbeing of the protected person.
- Termination: The conservatorship will end if the protected person regains their ability to manage their finances, if they pass away, or if they were a minor once they turn 18.
Choosing a Conservatorship Attorney in Colorado
For those seeking to initiate a conservatorship or if you are involved in a conservatorship proceeding, it’s crucial to have experienced legal guidance. Matters of conservatorship can be complex and emotionally draining, and a skilled attorney can navigate the legal landscape while safeguarding the interests of all involved.
Choose Baker Law Group for Expert Representation
Navigating the waters of conservatorship can be challenging. Don’t face this journey alone. Whether you’re in the heart of Denver or anywhere in Colorado, having a reliable legal partner is essential. For an experienced Conservatorship attorney in Colorado, trust the team at Baker Law Group.
With our dedicated Denver Conservatorship Lawyer experts, you’re not just getting representation but a promise to handle your concerns with utmost compassion and expertise. Reach out today and experience firsthand why many choose us as their preferred Colorado Conservatorship attorney.
