Conservatorship of the Estate

A conservatorship is a court-ordered legal arrangement where a judge appoints a person, called a conservator, to manage the financial or personal affairs of an individual who is unable to do so themselves due to a mental or physical incapacity, age, or disability.  

406 Financial Services can serve as a conservator of the estate under probate court appointment for individuals for whom the court has determined to be unable to manage their own finances, assets or property.  

Services Provided: 

• Asset Management: An inventory of the conservatee’s assets will be created and prudently managed to provide for the conservatee’s ongoing support and benefit 

• Financial Transactions: Income collection, bank account management, and bill paying services 

• Court Filings: File an initial inventory of assets with the court and submit annual accountings detailing all financial transactions 

• Record Keeping: Maintain thorough records of every financial transaction made on behalf of the conservatee 

Fiduciary Duties: 

As conservator, 406 Financial Services will always: 

• Act in the best interests of the conservatee 

• Maintain a duty of loyalty to the conservatee and avoid any conflicts of interest 

• Keep the conservatee’s estate assets protected and confidential  

Fees: 

• Set up: $350 one-time fee includes phone calls/emails/meetings and establishment of electronic and physical systems. 

• Administrative Fee: 1% of the total assets handled by 406 Financial Services with a minimum of $75/month. This fee is billed monthly. 

• Report Fees as needed: 

• Inventories: $500 

• Annual Reports: $350 

• Final Reports: $350