What is a Conservatorship?
In Idaho, a conservatorship is a court-supervised process for the appointment of a conservator to manage the financial affairs of a minor child, developmentally disabled person or an adult who is unable to manage his or her financial affairs effectively. Often, but not always, the guardian and conservator are the same individual. As with, guardians, appointed conservators are often family members of the person whose assets are under conservatorship but, in many cases, the experience and expertise of a professional conservator can be appropriate. In order to be eligible for appointment, an individual seeking appointment as a conservator must complete and pass online training administered by the Idaho Supreme Court. An appointed conservator must file with the court in the conservatorship proceeding a beginning inventory of the assets of the individual whose assets are under conservatorship and an annual accounting of the conservator’s administration of those assets each year. Upon the termination of the conservatorship, the conservator must file a final accounting with the court. Conservatorships can be costly and burdensome. Often, they can be avoided with a properly drafted General Durable Power of Attorney for financial affairs executed when you are of sound mind appointing a trustworthy agent and one or more backup agents to have the authority to assist you with your financial affairs if you do become incapacitated.
At Rossman Law, we possess a broad range of experience guiding family members through the appointment process, the administration of the guardianship and conservatorship, and in the resolution of disputes regarding whether an appointment should be made, who is to be appointed, or whether the guardianship and/or conservatorship is being administered properly.