What You Need to Know About the Cost of Conservatorship in California
In a conservatorship, a guardian manages another person’s daily life and/or financial affairs. Families will often use conservatorships to help deal with the medical, financial, and mental health needs of an elderly parent. Here is what you need to know about the cost of a conservatorship in California.
The cost of conservatorship in California varies on a case-by-case basis. Many times, assessments of the elderly or assessments of the person with physical and/or mental limitations are required, therefore, increasing the cost.
Related: How to Get Guardianship of an Elder in California
Breakdown of the Cost of Conservatorship in California
Filing fees for conservatorship in California range from about $278-$1,176 depending on the amount of assets involved, getting certified copies of important documents from the court, etc.
As mentioned above, psychological and medical assessments may be necessary to help the judge evaluate whether a conservatorship is appropriate. These assessments can increase the cost of conservatorship.
In addition, conservatorships involve an annual premium for the bond and filing fees for annual accounts, which can be paid out of the protected person’s funds.
The cost of conservatorship also depends on attorney’s fees. Attorney’s fees may be higher in emergency situations and contested cases as they require more time and work. If the court decides to appoint a conservator, the attorney can submit a description of the time spent on the case and related out-of-pocket expenses to the court and ask the judge to approve having those fees paid by the conservatee’s funds.
In the first year of an uncontested conservatorship proceeding, individuals should anticipate paying an average of $3,000 in filing fees and court costs on average in California.
Related: Conservatorship in California: The Basics
FAQs About How Much Does a Conservatorship Cost in California?
How long does it take to get a conservatorship in California?
In order to get a conservatorship hearing in California, the interested party must typically wait about 60 days. In the case of emergency, however, the court may allow a hearing in as little as 5 days. This would be called a temporary conservatorship. It should be noted that an emergency situation will cost more, as the required paperwork and court appearances are overwhelming, especially within a limited time frame.
How long does a conservatorship last?
A conservatorship typically lasts about 1 year. After the year of conservatorship has been completed, it can be restarted as necessary and the conservator must be reappointed by the court. At this point, the court may decide to appoint a family member of the protected party as the conservator.
Related: Emergency Conservatorships in California
What power does a conservator have?
A conservator has the power to collect all the assets of the protected party, manage the bills of the protected party, make investments, etc. Although the conservator must seek court approval for major transactions – such as the purchase or sale of a property, borrowing money, or gifting assets – they are generally given permission to completely control the finances of the conservatee.
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If you have any more questions about the cost of a conservatorship in California, contact us. We’ll get you in touch with the most qualified lawyer for your unique legal situation. Get your free consultation with one of our Conservatorship Attorneys today!