When a conservator is unable to handle the financial matters of a conservatee, what should they ideally do?

When a conservator finds themselves unable to manage the financial matters of a conservatee effectively, the most appropriate action is to transfer responsibilities to another professional conservator. This is crucial because the well-being and financial stability of the conservatee depend on competent management of their resources. A professional conservator is specifically trained and experienced in handling such responsibilities, ensuring compliance with all legal and fiduciary duties.

Bringing in another professional conservator helps safeguard the interests of the conservatee and ensures that their finances are handled according to relevant laws and best practices. This transfer is typically done formally, ensuring that there is a clear record of the change in responsibility and maintaining transparency in the management of the conservatee's assets.

Seeking assistance from a financial advisor or allowing a family member to take over, while potentially well-intentioned, may not be the best course of action. Family members may lack the necessary training and experience in fiduciary responsibilities, which could lead to mismanagement. Similarly, while a financial advisor can provide guidance, they do not have the legal authority to act as a conservator. Continuing to manage to the best of their ability may also lead to further complicating the situation, compromising the conservatee's welfare, and exposing the conservator to legal liability