Kiritsis & Associates
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Generally, it applies in situations where property ownership belongs to minors, mentally incompetent persons, or other individuals who are unable to manage their own affairs. In such cases, the court will appoint a conservator (some courts use different terms, such as guardian) to preserve and protect the property on behalf of those individuals. Depending on the jurisdiction and local legal customs, a conservator may be appointed for the estate and/or the person. The appointment of a conservator is usually manifested by a court order, statutory legal framework, and/or a regulatory authority. The extent and length of a conservation’s power, often varies by jurisdiction and local legal customs. The requirements to be a conservator, along with the scope of a conservator’s obligation, may vary a lot from state to state, and from case to case. The term ‘conservator’ seems to connotate a lack of permanency, which is often true; however, it may be possible for a conservator to serve for a long time period. To limit their potential legal exposure, it is generally a good idea for conservators to maintain length and detailed accounting records and receipts.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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