Everything you need to know about Conservatorships

For those of you who may have missed our second Sunday Coffee Chat & Support Hour on February 6, 2022, not to worry!

KIRC has you covered, because you can check out the video recording of our session online at your leisure.

Our focus for this chat? Conservatorships.

Guest Lisa J. Fanos joined us for an educational and lively discussion about this particular legal framework.

She has spent 45-years working as a Paralegal/Legal Assistant, with much of her focus within estate planning.

As part of that, she has also worked with many families and clients needing to establish Conservatorship for a family member.

Here are a few of the specifics we covered.

  1. Fanos explained to all of us what a Conservatorship is and who might need to consider putting this legal framework in place. The legal protections are for an elderly loved one who may be in mental decline, or even someone younger who is incapacitated or unable to make legal decisions for themselves.

  2. Our online guest forum filled with questions as well. One viewer asked for guidance regarding a family member who suffered from dementia. She knows an additional layer of legal protection needs to be put in place, but the family member is reluctant to move forward. Fanos provided some information that just might help.

  3. Many of you may have seen or are familiar with the popular Netflix movie, “I Care A Lot,” which depicted the story of a ring of unscrupulous individuals who preyed on elderly clients. For many of us, it may have been the first time we heard about Conservatorships (also called Guardianships in some states). Fanos explained the difference between Hollywood fiction and real-life facts. She outlined how conservatorships are established, and some of the safeguards that are in place to protect everyone involved.

  4. Another viewer asked for explanation of the difference in protection from a Power of Attorney (PoA) versus a Conservatorship. Faros broke it down in easy-to-understand terms.

  5. We also discussed situations in which family members just can’t agree and/or refuse to work together. Fanos calls this ‘Family Ugly,’ and wow… plenty of folks could relate to that!

#ICYMI

So again, if you missed it, I invite you to take a few minutes, log on and watch.

I know I learned a great deal and it is valuable information to have.

Some closing thoughts: One viewer shared her approach to pre-planning, saying, ‘If you are breathing, you need an estate plan.’

And she’s right. The reality is, folks, none of us know what is going to happen at any given moment: an unexpected illness, an accident, a medical diagnosis.

Our lives could change in a fraction of a second and we need to be ready.

I know. It’s tough, It is hard to make ourselves think about ‘worst case scenarios.’ But a little bit of planning and educating ourselves BEFORE a crisis, can make all the difference!

Thanks to everyone who joined us live. Remember, if you have ideas or topics you would like to see in future editions of Sunday Coffee Chat & Support Hour, drop your thoughts into the discussion section.

Until next time,

Julia