Understanding Conservatorship: What It Is and When It May Be Needed

Life can change quickly, and sometimes a person becomes unable to manage their own finances or make decisions about their property. When this happens, families may hear the word “conservatorship” and wonder what it really means — and whether it might apply to their situation.

In Virginia, a conservatorship is a court process that allows someone to handle the financial affairs of an adult who is no longer able to do so on their own. It is similar in many ways to guardianship, but there is an important difference: a guardian makes personal well-being and health/medical decisions, while a conservator handles money, assets, property, and financial matters and obligations.

When Is a Conservatorship Needed?

A conservatorship may be needed if:

• An adult becomes mentally or physically incapacitated due to a condition such as dementia, brain injury, or another condition and is unable to manage their own property or finances.
• There is no valid financial power of attorney in place, or the power of attorney is not accepted by a bank or institution as it is deemed to be outdated or has some other issue.
• Family members or caregivers need legal authority to manage bank accounts, pay bills, or sell property for the person’s care.

How Does It Work?

To set up a conservatorship, someone, usually a family member, files a petition with the local circuit court. The court reviews evidence, hears from doctors if needed, and decides whether the person truly cannot handle their own financial matters due to an incapacity. If granted, the court appoints a conservator, who must follow strict rules, keep detailed records, and report back to the court regularly.

Can Conservatorship Be Avoided?

Many families prefer to plan ahead to reduce the chance of needing a court-appointed conservator later. One of the simplest ways to do this is by having a current, well-prepared financial power of attorney while the person is still able to make decisions. This document can often allow a trusted person to step in without going to court.

If you have questions about how conservatorship works or would like to review ways to plan ahead for yourself or a loved one, our office is here to help. Contact Wilson Law today to schedule a time to talk about what might work best for your family’s peace of mind. Call us at 866.603.5976 or fill out our online form, and we will be in touch to set up a time to talk at your convenience.