What is a conservatorship? What is a power of attorney? Both of these legal processes are used to designate an individual act on behalf of another person. So, what are the difference between the two? Which one is best for your particular situation? It is important to understand both in order to determine which is best for you.

Power of attorney and a conservatorship are very similar but they are very different as well. A conservatorship is a process where the court appoint a person (a conservator) to assist an incapacitated person with their business affairs. After a conservator is appointed the conservatee can no longer legally bind herself. In a conservatorship the Court appoints a conservator to assist the conservatee in doing so the Judge must determine that conservatee can not manage his affairs. Most courts require an accounting of the conservatee's assets  on a yearly basis.  The conservator must account for any spending of during that period. The court usually will require the conservator to obtain a bond.  A bond will insure that funds are replace in the event that funds are stolen or misappropiated.

A is Power of Attorney legal process which an individual give authorization to another person to act on their behalf in a legal or business matter. The person authorizing the other to act is the principal, granter, or donor (of the power), and the one authorized to act is the agent or attorney-in-fact. The granter can still bind his or her self after granting a power of attorney. Before make an decision you should always consult with an attorney.

One of these two options will assist in any situation where there is a need to have someone act on your behalf. But is important that your choose the one that best for your circumstance. The primary difference between a Power of Attorney and conservatorship is court involvement. A conservatorship impose fiduciary relationships between the conservatee and conservator. A conservatorship have more over site over the conservator. the court authorizes an individual to act as conservator of another. Learn more about How to Setup a Conservatorship for Elderly Parents.