Who Can Be a Conservator in Colorado?
Not everyone is eligible to become a conservator. To be eligible, you must meet specific requirements set by the state of Colorado, including being at least 21 years of age.
If you meet these general requirements, you must also be willing and able to take on the responsibilities of being a conservator in Colorado. These responsibilities include, but are not limited to:
- Making financial decisions in the best interest of the protected person
- Protecting the protected person’s property
- Acting in good faith
- Being held accountable to Colorado’s court of law
What Are the Duties of a Conservator in Colorado?
A conservator is a Colorado court-appointed individual who is responsible for making financial decisions on behalf of another person, called the “protected person.” The duties of a conservator can vary depending on the specific needs of the protected person, but generally include:
- Paying bills
- Managing assets
- Making investment decisions
- Filing tax returns
If a conservator cannot or does not meet their duties, they may be removed from their position by the Colorado court.
How Long Does a Conservatorship Last in Colorado?
The length of a conservatorship can vary depending on the needs of the protected person and the circumstances of the case.
In some cases, a conservatorship may only last for a short period of time, such as when an individual is temporarily incapacitated due to an illness. In other cases, a conservatorship may be necessary for an extended period of time, or even indefinitely.
A conservatorship can be terminated in several situations. The protected person may regain capacity and be able to resume control of their own affairs. The conservator may resign or be removed from their position. Alternatively, the Colorado court may order that the conservatorship be terminated due to agreement upon another financial arrangement, such as implementation of a trust.
If you are considering a conservatorship for a loved one in Colorado, it is important to understand how long the process may last and what options are available for initiating and terminating the conservatorship. An experienced Colorado attorney can advise you of the best course of action in your specific situation.
Get in Touch With Our Colorado Estate Planning Team Today
If you would like to discuss Colorado conservatorships further or get a conservatorship in place for someone you love, please contact our experienced Colorado attorneys today. With their guidance and experience, you can feel confident and relaxed knowing all the legal pieces are in place no matter what the future holds for you or your loved one.
Contact Brestel Bucar Ltd. and schedule a meeting with a member of our legal team today. 303-731-4402