Michigan Conservatorship Proceedings
In many cases, applying for guardianship is not sufficient to fully care for an incapacitated individual. While a guardian oversees the person’s overall well-being, a conservator may be necessary to manage the person’s financial matters.
If you have questions or need legal assistance with a Michigan conservatorship, we invite you to call today for a free initial telephone consultation. Mobile Legal Services practices in probate courts throughout Southeast Michigan. Our probate attorneys meet clients in their homes, nursing homes, or other convenient locations — for no additional cost — in the Downriver Detroit area and all of Monroe County, Washtenaw County, Southern Macomb County, Oakland County, and Wayne County.
What is a Conservator?
In the context of Michigan probate law, a conservator has broad authority to handle any assets held on behalf of the ‘protected’ individual and to make payments from those assets for the health, benefit, and welfare of that individual. A conservator’s primary duties are to preserve the protected individual’s assets and to expend them for the support, education, care, and benefit of the individual and his or her dependents.
These powers include the power to:
- Invest or reinvest funds in accordance with the Michigan Prudent Investor Rule
- Retain assets in which the conservator has a personal interest
- Exercise powers and duties relating to stock ownership
- Hold stock in the name of a nominee
- Continue and participate in the operation of the protected individual’s business
- Open a bank account
- Acquire or lease real estate
- Repair, erect, or demolish structures
- Purchase insurance
- Pay or settle claims by or against the estate
- Employ professionals
To learn more, call us today.