When someone is unable to make important decisions on their own, a legal situation may need to be established so that another person can make those decisions on their behalf. There are many different tools that can be used to address this. For instance, in some situations, people may use medical or legal power of attorney.
Two of the main ways this is handled are through guardianships and conservatorships. These arrangements are very similar, but there is a key difference.
A financial focus
In both cases, the person placed in a decision-making capacity has the responsibility to make choices in the other person’s best interests. For a guardian, this may involve deciding where the person lives or helping them find housing. It could also include making medical decisions about the care they should receive or communicating with their medical team. For instance, if an elderly person is placed under guardianship, the guardian may help them find an assisted living center or nursing home that can meet their needs.
A conservatorship, on the other hand, generally has a financial focus. The conservator is responsible for tasks like transferring money between financial accounts, paying important bills or handling other matters involving real estate or tangible property that the person owns.
In some cases, both a conservator and a guardian will work together. For example, a financial institution may act as the conservator, while a close family member acts as the guardian.
Every situation is unique, of course, so it’s crucial for those involved to understand the differences between these two arrangements and the legal obligations and responsibilities they create.
