When someone can’t manage their own financial affairs, a conservatorship may be necessary. We help families and fiduciaries take on this legal responsibility the right way—making sure everything is handled lawfully, responsibly, and with transparency.
Dealing with the mental decline of someone close to you is difficult. Whether it’s due to illness or disability, the worry that they might make monetary decisions that would be detrimental to their financial well-being can be especially troublesome. At Flatiron Legal Advisors, LLC, we can provide you with an experienced estate planning attorney in Boulder County who can assist you in your petition for conservatorship of a family member or loved one.
A conservator is an individual, appointed by the courts, who is responsible for all financial affairs of another, usually an incapacitated adult. An incapacitated adult is understood to be someone who is unable to make basic decisions regarding their health, safety or care. It is the conservator’s job to protect and manage the estate of the person they are overseeing.
Conservatorships can be granted over the estates of someone who is detained or cannot return to the United States. A missing person may also have a conservator appointed. Anyone who is twenty-one or older may petition for conservatorship of an individual under Colorado law. However, if the petitioner is also providing long-term care for the protected individual, they must be a family member.
A conservator will have specific fiduciary responsibilities and powers outlined in the conservatorship orders. They may also be eligible to receive reasonable compensation for expenses incurred while performing these duties.
Some responsibilities and powers of conservatorship may include:
There are two types of conservatorship in Colorado: limited and unlimited. State law favors appointments of limited conservatorships. Limited means the conservator is only granted powers and responsibilities in specific, court-appointed areas. If a petitioner requests unlimited conservatorship, they must prove why such a broad designation is necessary.
At Flatiron Legal Advisors, LLC, we know you have your loved one’s best interests at heart. We appreciate and are sympathetic to the concerns you may have about your family member’s financial security.
If you would like information about filing a petition for conservatorship, contact us or fill out our free initial case evaluation form today!
Behind every successful case is a lawyer who knows how to get results. At Flatiron Legal Advisors, our team brings sharp legal insight and a practical approach to solving problems. We focus on what moves the needle—strong advocacy, smart strategy, and a commitment to getting the best possible outcome for you.