Conservatorships

If you should become incapacitated and unable to manage your financial affairs without having executed a power of attorney for finances, Oregon law provides for the court to appoint a "conservator", or more commonly refered to as Oregon Conservatorships.

Someone will have to file a petition with the court to become your conservator. The court will consider whether this person is the best person to fill this role.

Usually the court will appoint a family member.

However, if the court believes there is no family member qualified to fill this role, the court may appoint a disinterested third party to serve as conservator. In fact, there are persons who make their livelihoods by working as professional conservators.

If you wish to have a voice in whom the court appoints, you should nominate persons in order of preference in your legal documents. The court honors these nominations, if possible.

The petition to the court will state that you are unable to manage your income and property without assistance, and that you have property that will be wasted or dissipated unless management is provided.

The petition will have to specify what is wrong with you and give examples of your inability to manage your financial affairs. You then become "a protected person."

Your conservator, once appointed, will have to file an inventory of your assets with the court, transfer the assets from your name to the conservatorship name, and obtain a bond insuring the conservator's honest management of your assets.

The conservator will also have to prepare and file an annual accounting with the court explaining every receipt and disbursement of your assets.

Nay and Friedenberg has many years of expertise in establishing, defending and administering guardianships and conservatorships.

If you have questions or concerns about Conservatorship issues, please don't hesitate to contact the Conservatorship Attorneys with Nay and Friedenberg at 503.245.0894.