In Georgia? Can you have both?

This question has been closed for answers. Ask a New Question.
A conservator has legal charge of a person's assets. A conservator of the estate is responsible for paying all the bills and taking care of all business matters. It is a relationship set up by the probate court when a person is deemed incompetent to handle their money. The conservator answers to the court and not to the person he is in charge of.

A durable POA is appointed by the person himself. The person can also revoke the POA. (Only the court can revoke a conservatorship.) The durable POA can conduct business for the grantor, but is not in charge of the money as long as the grantor is not incapacitated. A durable POA becomes effective as soon as the form is signed. It differs from a springing POA, which comes into effect only if the grantor is incapacitated.

If you are conservator, a POA would not be useful. Conservators generally pay everything for their charge and may give them an allowance that they can spend how they want. I guess the easiest way to put it -- a conservator is boss of the money, but a POA is not unless the grantor becomes incompetent.
Helpful Answer (0)

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter