42% of older adults who have difficulty with basic tasks don’t get the help they need. 8.3 million Americans are left struggling to:
- Get dressed
- Use the toilet
- Prepare meals
Proper planning helps prevent this situation. Older adults need to compare all their options while they’re mentally and physically capable of doing so.
Two popular choices seem interchangeable but are quite different. Read our comparison guide to conservatorship vs guardianship.
What’s a Guardianship?
A guardianship occurs when a court appoints a guardian to care for someone who can no longer care for themselves. It’s often a family member but can also be a friend or a court-appointed individual.
When seniors are under guardianship, they may be unable to make decisions about their healthcare and daily living arrangements. The guardian makes sure the senior in their care is safe.
They also make the best possible decisions for their health and safety. This could involve tasks such as picking a safe home or ensuring they go to all their healthcare appointments.
What’s a Conservatorship?
A conservatorship involves the court appointing a conservator to manage the financial affairs of someone who is no longer able to do so.
This may involve financial duties such as:
- Overseeing finances
- Budgeting
- Banking
- Paying bills
- Managing investments
- Protecting assets
Conservatorship vs Guardianship
Certain states allow for the role of a conservator and guardian to be combined. It helps seniors who need help with personal and financial decisions. On their own, the two roles are different in several ways.
The primary differences when comparing conservatorship vs guardianship lie in their responsibilities. Guardians help with personal and medical decisions. Conservators handle financial decisions.
Both roles are time-intensive, but there’s one part of being a conservator that takes a lot of extra time. They have to file regular reports with the local court.
The conservatorship process for seniors tends to take longer. It also ends up being more expensive than a guardianship. You could be on the hook for:
- Court filing fees
- Investigator fees
- Conservator’s fees
- Attorney’s fees
- Hourly fees
All of that money comes out of the conservatee’s estate. A public guardian can be appointed for and paid for by the local jurisdiction.
When Are They Necessary?
A senior may need a guardian if they suffer from severe physical disabilities. They may also be one of the nearly 7 million Americans suffering from Alzheimer’s dementia. Either one can affect their ability to care for themselves.
These can also be reasons to hire a conservator. It may be the better option for seniors who can manage their living situation but have trouble with financial matters.
Perhaps they can still live independently but struggle to pay the bills, their investments are being ignored, or they’re vulnerable to scammers.
Using a conservator can also be a helpful tool for estate planning for seniors. It’s especially important if they haven’t even begun the process. They can suggest the best ways to manage expenses and assets long-term.
The Legal Process
The legal rights of seniors when it comes to guardianships and conservatorship vary by state. Speak to a local lawyer to find out the regulations in your area.
The guardianship legal requirements in Louisiana are different because the law uses different terms to identify them. They’re known as curators.
The role is split into two categories; curator of the person and curator of the property. The former takes on the role of a guardian. The latter is closer to a conservator.
A relative, a friend, or a public official can petition to be a curator. Most courts require proof of incapacity before they approve the request. It can be a long and difficult process that requires many trips to court.
Alternatives to Conservatorship and Guardianship
Comparing conservatorship vs. guardianship is only the beginning. There are plenty of other options available for seniors that may be a better fit.
Thinking about which option to choose now helps you find the best one before it’s necessary. You’ll be prepared to spend your later years comfortably.
Revocable Trusts
A revocable living trust appoints a trustee to manage financial affairs. It also spells out the conditions the trustee must follow.
The extra steps prevent abuse or mishandling of funds. The trustee will be on the hook if they don’t use the money how they’re supposed to.
Power of Attorney
A durable power of attorney delegates an agent to make financial decisions for an individual if they can’t do it themselves.
It’s easier to set up than a conservatorship. There’s no need to make regular reports to the court.
Assisted Living
Assisted living communities are great options for seniors, whether or not they’re incapacitated. They provide help with daily tasks or medical needs. They’ll also get a social connection with other community members.
Seniors don’t always accept it as the best option for them. A conservatorship can take over if necessary. It can help find them the best possible community they can afford.
Planning Ahead
It’s important to start elderly care decision-making early. Begin before there’s any loss of physical or mental ability.
Pick a trustworthy guarantor, conservator, or individual to have power of attorney. Deciding now makes sure the court doesn’t have to pick one for you later.
Look at all of the local assisted living communities in your area. Compare them all based on your current and potential future needs. Find out which one will provide the best care and the most comfortable living area.
Making the Right Elder Care Decisions
Comparing all your options, such as weighing a conservatorship vs guardianship, is the best way to make the best elder care decisions.
Guardians are in charge of personal and health decisions. Conservators protect finances and estates.
There are also several alternatives. You could create a revocable trust, designate a power of attorney, or choose an assisted living community.
Summerhouse Alexandria is a vibrant assisted living community in Alexandria, LA. We offer a nurturing environment that provides for individual needs while supporting independence. Contact us to schedule a tour today.
