Guardianships and Conservatorships
When a person is not ready or no longer able to handle their own affairs, a loved one often has him or her ruled incompetent by a court of law through the process of living probate. The court names an individual to act as the Guardian of the Person, and an individual or corporate fiduciary to act as Conservator, or in the case of a minor, Guardian of the Estate of that person.
The Guardian/Conservator of the Estate holds the individual's assets, and disburses them on his or her behalf after obtaining a court order to do so. Also, the Guardian/Conservator must submit annual accountings to the court to ensure that the Guardian/Conservator is acting in the best interest of the incompetent individual.
Overall, the process is time-consuming and can present many challenges to an inexperienced individual who attempts to act as Guardian of the Estate. A corporate fiduciary, on the other hand, is experienced in administering such accounts and is familiar with the court proceedings involved, including the preparation and filing of the annual court accounting.
Our Trust Professionals administer such estates and works with family members and the attorneys involved ensuring that an incapacitated individual's estate is handled in his or her best interests. We also prepare and file the annual court accountings through the attorney involved.
To learn more, call Standard Bank toll-free at 866-499-BANK (2265) or use the Contact Us form.