Patrick J. Thomas Agency

In most cases involving conservatorship, the courts will appoint a person or organization to manage the financial assets of a protected person. This is the most basic explanation of the primary duty of conservators, but their power and authority can vary based on the state as well as the court…

The process of appointing a person or professional company for a conservatorship or guardianship can differ from state to state, but there is a general process that applies to most courts across the country. While it’s best consult with an attorney before going through the process, it’s good to know…

While conservatorship accountings occur on an annual basis in most states, not every conservator will be subject to a more extensive audit. If you are a conservator and have received notice that your account is being audited, there is no reason to panic. Just because you are being audited does…

One of the most important things a person can do when acting as a fiduciary for a trust is understand what’s involved in the role. It’s more than signing a few pieces of paper, and there are actually many challenges to overcome when taking the position. It’s not an impossible…

When a vulnerable person is unable to manage their estate and/or make certain decisions regarding their care, it becomes necessary for the court to appoint a conservator or guardian. The basic difference between conservatorship and guardianship is in the powers they are granted by the court: conservators manage the assets…

As an appointed conservator, you have a fiduciary responsibility to conserve and manage the estate of a protected person. This duty includes taking charge of the financial assets and day-to-day spending. Because of these responsibilities, it is imperative for conservators to have a rudimentary understanding of basic money management and…

The fundamental difference between guardians and conservators is in the power they are given. Both protect a vulnerable person, but conservators and guardians have very different roles when it comes to managing the finances and day-to-day decisions regarding a vulnerable person. Remember that each state has different rules, guidelines, etc…

Trustees manage the distribution of a trust’s assets to certain beneficiaries. Since this responsibility comes with a substantial amount of financial management, certain accounting practices become necessary to effectively manage the distribution. If you have recently become, or will become, a trustee, follow these best practices when executing your grantor’s…

A representative payee, not to be confused with a personal representative, is a person or organization who is charged with using the benefits distributed to a vulnerable person to pay for his or her basic needs. Understand the Rules That Guide You There are different types of representative payees, depending…