When parents or other loved ones decide to seek guardianship and/or conservatorship, they are doing so because a family member of theirs cannot make critical decisions on their own.
Families that choose to seek guardianship sometimes have reservations. If the potential ward has a history of violence or reckless behavior, this can cause worry about legal or financial liability of their own. The truth of the matter is, some guardians have great difficulty in effectively managing the ward. Because of this, guardians are not legally or financially liable for their wards’ actions in most cases. If the guardians are fulfilling their role in good faith, the structures of guardianship protect them.
Conservators must also act in good faith when managing their ward’s finances such as their assets and property. A conservator may be held responsible for a ward’s financial losses only if the conservator directly violates his or her fiduciary duty. Most families do combine the two roles into one, giving a single person as guardian/conservator role. If finances are a source of conflict, or if the guardian does not feel comfortable handling them, a third party may be selected as conservator.
Considering whether to file for guardianship and/or conservatorship is a big decision with many factors. In most cases, concern for personal liability doesn’t need to be a significant consideration or a major concern when becoming the guardian or conservator.
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1 Terminal Dr, East Alton, IL 62024
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7a Park Place Swansea, IL 62226
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511 W. Pearce Blvd. Wentzville, MO 63385
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12747 Olive Blvd., #300, St. Louis, MO
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Mt. Vernon
1115 Harrison St. Mt. Vernon, IL 62864
618.242.0200
Edwardsville
217 South Main Street, Edwardsville, IL 62025
618.659.4499
East Alton
1 Terminal Dr. East Alton, IL 62024
618.258.4800
Wentzville
511 W. Pearce Blvd. Wentzville, MO 63385
636.332.5555
Swansea
7a Park Place Swansea, IL 62226
618.239.4430
Chesterfield
13321 N. Outer 40 Road, Ste. 700, Chesterfield, MO
636.332.5555
Creve Coeur
12747 Olive Blvd., #300, St. Louis, MO
636.332.5555
Mt. Vernon
1115 Harrison St, Mt. Vernon IL
618.242.0200
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