Probate Court Conservatorship
f a person becomes unable to manage business and financial affairs, Conservatorship proceedings must be opened in Probate Court if there is no Power of Attorney or ownership arrangement that grants authority to someone to manage the assets,
Conservatorship can include a Petition to Expand the Authority of a Conservator that allows the Conservator to transfer assets to family members. Section 5-407(d) of the Massachusetts Probate Code lists the powers that can be given to a Conservator to make gifts and create trusts to hold property of the person's estate. This process takes longer than if the person had a valid Power of Attorney with gifting and trust making powers, but it can still save assets that would otherwise go to pay for nursing home and medical costs.
We can help family members manage difficult circumstances that require consideration of income and estate taxation, long term care costs and probate. Our office also handles the routine functions of inventory and accounting that go with Conservatorship. Call us at (413) 567-5600.