Summerville Conservatorship Lawyer
Conservatorship is a legal tool used to protect the financial affairs of an incapacitated person (the “conservatee”), who is by legal definition incapable of managing their own financial affairs. A conservator is often an adult child of an elderly parent or another relative of the conservatee who needs help protecting his or her assets. In order to become a conservator, you must petition the court for this important role, and prove that your loved one is indeed incapacitated, and that you are the party best suited to managing their money, real estate, business assets, estate planning, and other finances. Here at Shelbourne Law, our Summerville conservatorship lawyers can help you accomplish this important task, ensuring that your loved one is financially protected well into the future.
An individual is deemed incapacitated when it is proven that they are incapable of making decisions for themselves. Title 62 Section 62-5-101 of the South Carolina Probate Code defines incapacity as the inability for an individual to “effectively receive, evaluate, and respond to information or make or communicate decisions,” even with reasonable support and assistance, regarding:
- Their physical health, safety, or self-care; or
- Management of their property or financial affairs.
The incapacitation can be caused by disability, advanced age, mental illness, developmental disability, chronic drug or alcohol use, or another cause. While your loved one may be able to care for him or herself physically, they may not be of sound enough mind to manage their financial affairs, which is why conservatorship is so important.
Conservatorship Vs. Guardianship
Conservatorship is used to protect an individual’s financial affairs. This includes their bank accounts, retirement funds, real estate, business assets, valuable property, and more. A conservator does not protect the individual in other realms of life, such as making decisions about their living arrangements or medical decisions, which is the role of guardianship.
- Conservatorship—Legal authority to make financial decisions, including paying bills, investments, business assets, managing bank accounts, and more.
- Guardianship—Legal authority to make non-financial decisions, such as medical care, living arrangement, day-to-day schedule, food, clothing, and more.
Elder Financial Fraud
Elder fraud has been on the rise for over a decade, and is only getting more prevalent despite federal and state initiatives to combat this theft that currently robs elders of $36 billion per year, according to CNBC. 90 percent of elder financial fraud is committed by family members of the victim, according to The National Council on Aging, while wire fraud such as email and telephone scams account for much of the rest. However, fraud does not need to be the sole reason for an elderly person or younger incapacitated person to need conservatorship. If they have lost significant amounts of money due to other reasons, they may need your help.
Contact Our Summerville Conservatorship Lawyers Today
Conservatorship is a large responsibility, and one that can have an important impact on the well being of your incapacitated loved one. The Summerville conservatorship attorneys here at Shelbourne Law can help you petition the court for this vital role. Call us at 843-871-2210 to schedule a free consultation today.