If a minor (person under the age of 18) or an incapacitated adult have financial assets that need management and protection, a conservator may be appointed. A conservatorship differs from a guardianship. A guardian is in charge of personal issues for the incapacitated person such as where they live, medical care they receive and the schooling they obtain.
Hawaii Family Court appoints the guardian while a conservator is appointed through Hawaii Circuit Court. The guardian and conservator appointments may be combined in Circuit Court for an incapacitated adult. For a minor, guardians must be appointed through Family Court and conservators must be appointed in Circuit Court.
A guardian or a conservator is a trusted individual appointed by the Court to act on behalf of the incapacitated person or minor. The guardian or conservator follows up with the Court through an annual reporting. The relationship of the guardian / conservator with the protected person is a confidential one and they should encourage that person's participation in the decision-making to the extent possible.
A guardian / conservator must always act in the best interest of the protected person and must never become involved in any activities that may give the appearance of a conflict of interest.
• A minor child is the beneficiary of a life insurance policy
• A minor child receives a financial settlement from a personal injury such as from an automobile accident
• A minor child reaches the age of 18 and is legally an adult but is not able to manage their assets due to a physical or mental disability
• A senior citizen starts to suffer mental deterioration and is likely to or give away their assets to inappropriate people
• An adult suffers from a mental disability and has unscrupulous people taking advantage of the situation and taking their assets
Guardians and Conservators are appointed to protect the assets and interests of either a minor or an incapacitated person
Call today for a consultation regarding Conservatorships and Guardianships