Some minors may find themselves the recipients of large amount of funds and property before they are legally able to control or manage the responsibilities that come with those assets or funds. This can occur if a minor’s parents are deceased and leave him or her the estate or under similar circumstances. Because a minor can’t legally manage a large estate or be left to make important financial decisions on his or her own, a conservator is appointed to handle financial matters for that minor. The process of filing for and acting as a conservator of a minor can be complex, challenging, and entails a great deal of responsibility. Shapiro Law Group, PC, has the experience and understanding of Massachusetts probate and family court law to help all parties involved in the conservatorship of a minor.
Filing for Conservatorship
After filing for conservatorship, the court will appoint that conservator to protect the funds or assets of that minor. Funds for the minor’s education, healthcare, support and other needs will be allocated to the conservator. The person appointed conservator will be charged with inventorying of property and assets and will make financial decisions based on the best interests of the minor. That conservator will also submit an annual report of finances and a detailed account of the estate. A conservator may also create a revocable trust for the minor.
The court can appoint a family member or trusted family friend as conservator of a minor. If that minor is 14 or older, he or she can nominate someone for the job.
Taking sole responsibility for the finances of a minor can be complicated and entails a great deal of trust and responsibility. The guardianship lawyers at Shapiro Law Group, PC, understand what may be at stake and what kind of obstacles may arise. Our firm will take the time to get to know the situation and we will advise conservators about all of the options and duties for which they have signed up. The trusted and knowledgeable attorneys at Shapiro Law Group, PC, will work with a conservator to explore the best approach to handling financial matters. We will also work to ensure someone filing for conservatorship of a minor has a clear understanding of the undertaking and provide any ongoing legal support that may be needed.
The attorneys at Shapiro Law Group, PC, are ready to help you. Contact us today to set up your free initial consultation. (339) 298-2300.