A conservatorship is a legal right given to a person to be responsible for the assets and finances of a person deemed fully or partially incapable of providing these necessities for himself or herself.
In some jurisdictions, a conservatorship may be referred to as a "guardianship of the estate", or by some similar alternative name.
Conservators are supposed to protect the elderly and infirm. But some neglect their clients, isolate them and even loot their hard-earned assets.
Here are some examples of conservatorships from the state of California gone very wrong and the conservators sentenced to prison:
Rodney P. Swanson, a Tarzana conservator, was suspended in 1994 after he bounced a $125,000 check from a client’s account. He plundered the estates of 55 clients, authorities said. In 2001, he was sentenced to five years in prison for grand theft and tax evasion and was ordered to repay $1.1 million.
Jeffrey James Walker, a Palm Springs conservator, was prosecuted twice for stealing from his elderly clients. In 2000, he pleaded guilty to embezzling $57,000 from one, but continued to work as a conservator. He later pleaded guilty to stealing from four other clients. He was sentenced in 2003 to 16 years in prison.
Bonnie Cambalik, who received 300 court appointments as Riverside County’s busiest conservator from 1986 to 1999, stole more than $1 million in cash, jewelry and other valuables from clients. She pleaded guilty to embezzlement and perjury and received a 26-year sentence.
Multiple examples of unethical conservators
To avoid a conservatorship, or to ensure that someone you trust is put in charge of your affairs, attorneys recommend one or more of the following:
A durable power of attorney designates someone to manage your finances. It does not have to be drafted by an attorney, but must be notarized if real estate is involved. If you don’t plan on using an attorney, ask for a “statutory” form at stationery stores or look for it on the Internet.
An advance healthcare directive authorizes a friend or loved one to make medical decisions for you.
An advance nomination designates someone to serve as your conservator if a court deems one necessary.
A revocable trust, also known as a living trust, designates an individual to manage your assets outside court jurisdiction while you are alive and after you die, thereby avoiding the cost of probate. Trust documents must be filed with your bank and other financial institutions.
Be sure to inform the people whom you have designated to make decisions for you. Give them copies of the appropriate documents and tell them where the originals have been filed. Affordable methods of establishing: durable power of attorney, advance healthcare directive, advanced nomination of conservator and a living trust.
