Conservatorships do not have to last forever. There are circumstances when it becomes apparent that the role of conservator is no longer needed to protect the financial affairs of another individual under the Court’s supervision. Termination of a Colorado Conservatorship can be requested (either by the protected person or by the conservator) based on several situations:
- The protected person passes away
- The protected person turns 21 and is able to handle financial affairs on their own
- The protected person’s mental or physical capacity is restored, allowing them to handle their financial affairs
- There are not sufficient assets to warrant conservatorship
As with most legal matters, it is necessary to file a petition with the courts to end a conservatorship. In Colorado, there are several legal forms that must be completed, depending on why you are requesting termination. All applicable sections of these forms must be completed and some require signatures to be witnessed by a Court Clerk or Notary Public. A final report of financial information may also be required.
Once the proper forms have been compiled, they must be filed with the courts and a copy of the forms must be mailed to all other individuals who require notification of the termination (interested persons). The courts may or may not require an evidentiary hearing to confirm the reasons why the conservatorship termination is being requested. If this is scheduled, the conservator and/or the protected person must attend the evidentiary hearing.
If your termination request is accepted, you must then complete the proper paperwork to request a Decree of Final Discharge from the court. This will not be automatically issued until the protected person or the interested persons have confirmed that all assets have been transferred.
As you can see, there are many steps involved in terminating a conservatorship in Denver. Any hiccup in the process, whether that be incomplete or incorrect filing of documents, will drag out the process and could have financial implications for the protected person or the overall estate. If you find yourself in a situation where you need to end a conservatorship, it is best to seek legal guidance to ensure that you are following the proper steps, filling out the correct forms and filing them in a timely manner. The team at Brown & Crona, LLC have the expertise to move this process along quickly and smoothly, while being respectful of the delicate situation.
To get help with conservatorships in Denver contact Brown & Crona, LLC to arrange an appointment: (303) 339-3750 or visit our website.