Whenever a court appoints a conservator or an adult guardian, the person serving in that position must spend considerable time and effort to properly carry out his or her duties. While some conservators do receive compensation for their actions, not all of them do. Talk to an estate planning lawyer for information about the rules governing conservator pay in your state.
Family Conservators: In many situations, a family member of an incapacitated adult serves as conservator because this is the best and most convenient solution. These family members typically do not receive a salary or any kind of income when they serve in the conservator role. However, as a family member incurs expenses as a conservator, he or she may be entitled to receive compensation for these efforts. Because of this the court can appoint two conservators or guardians: one who is responsible for providing for the day-to-day care of the ward while another is responsible for the financial expenses. In some situations a family member conservator may receive compensation, though the payment or salary must first be approved by a judge.
Professional Conservators: Occasionally, a judge appoints an organization or a professional not related to the ward to manage the ward’s affairs and serve as conservator. When this happens the judge typically established how much the conservator will be paid for his or her services. Pay is provided by the ward’s estate and conservators must report the pay as income.
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