For individuals requiring assistance in managing their assets and finances, courts will often appoint a conservator to oversee these particular aspects of that person's life. Petitioners to the court are often relatives, health care workers, or concerned individuals who feel that person can no longer handle their own finances. Through often protracted court proceedings, a judge can determine that an individual needs the services of a conservator. GFS can serve as a court appointed conservator, providing oversight of the finances of a person determined to be legally incapacitated by the court. After assessing the individual's immediate financial situation, GFS manages the individual's finances, reporting annually to the court and requesting the court's permission prior to certain major transactions including selling of a home.
The establishment of a conservatorship can be costly with court filings, doctor and investigators' fees and attorney fees related to the court proceedings. With good estate planning including a durable power of attorney and living trusts, individuals can avoid the necessity of a conservatorship. That's why when GFS receives new clients, we recognize the importance of good estate planning and make referrals to reputable attorneys to be sure that the necessary documents are up to date and in place.