Conservatorship of the Estate
What is a 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.
- 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
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
- 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
Interested in Fiduciary Services or have a question? We’d love to hear from you!
We offer free one-hour consultations to learn more about your needs and discuss whether our services may be a good fit.