A conservator of a protected person is someone who has been selected by the court to manage the financial affairs and estate of an adult who is unable to make those decisions on their own. A conservator is appointed if the protected person had not named an agent under durable financial power of attorney or if the agent who was named has acted in contravention to the principal’s best interests. A conservator in Colorado will handle financial matters such as paying bills, managing investments, purchasing or selling property, filing tax returns, etc.
Within these realms, there are financial and relationship scenarios which can warrant the changing of the protected person’s will. Conservators do have the power to make changes to the will if those changes will continue to support the pre-incapacitation wishes of the protected person and the Conservator seeks Court approval of the changes.
Here are a few possible scenarios where a change in the family dynamic may warrant updating the will:
- A beneficiary has passed away
- A beneficiary has become a threat to the protected person
- A beneficiary has become incapable of handling their own finances or well-being
- New family members have been added due to a birth or marriage
- Family members have left the family due to divorce
There are other financial situations that may arise, requiring a change of the will:
- The conservator has made a significant purchase or sale that affects the estate value
- Investments have been added or eliminated, affecting the estate value
- The protected person has received a significant inheritance
The conservator does not have the freedom to make changes to the protected person’s will with the Court’s approval. The Court will consider if the proposed changes are consistent with the original wishes of the protected person.
Like most court appointments for protective proceedings, conservators are meant to protect those who cannot protect themselves. If you feel a loved one is being taken advantage of by a dishonest, vengeful or incompetent conservator, contact a Colorado conservatorship litigation attorney right away. The Denver conservatorship lawyers at Brown & Crona, LLC are available to listen to your concerns, recommend a course of action and help you file pleadings with the courts to get results. To arrange an appointment, call (303) 339-3750 or visit our website.