If a child under the age of 18 receives a settlement or life insurance proceeds, a conservatorship needs to be established. Under Michigan laws, children under the age of 18 are not allowed to receive money. Unlike a guardian who can make major life decisions, a conservator is only in charge of the finances of a child. Conservators can be parents or friends.
If you or someone you love needs to establish a conservatorship for a minor child, or an elderly parent contact our estate planning and family law firm, Spindler, Nausieda & Associates. Sound estate planning can often avoid the problems in guardianship or conservatorship proceedings. Let us do the worrying, so you can concentrate on your life and your family.
What if the Money Is Being Spent Frivolously?
As a conservator, you have to file an annual accounting to show how the money is spent. If the money is spent frivolously, the court may remove the conservator. Often a guardian ad litem is appointed to review the work of the conservator. A guardian ad litem looks out for the best interests of the child or elderly person. The guardian ad litem will review the accounting and make recommendations to the court to determine if the spending is appropriate.
Contact a Hartland Township Conservatorship Attorney Today.
Our attorneys work with families to obtain conservatorships and serve as a resource for court-appointed conservators. You will find us knowledgeable and experienced in conservatorship law. We are conveniently located in Milford, Michigan.