The Associate Press reported yesterday that Zsa Zsa Gabor's husband of 25 years has been appointed the temporary Conservator of her estate, part of an agreement reached with the actress's daughter, Constance Francesca Hilton. According to the AP, her husband will continue to make medical decisions about his wife's care. The courtroom battle brings light to an important part of estate planning that you should definitely consider. Who will make decisions for you if you are unable to make decisions for yourself?
But let's start with an explanation.... What IS a Conservatorship??? A Conservatorship is the court-monitored process necessary when a person becomes incapacitated and cannot manage his or her own finances. It is important to know that the laws of California favor the nearest related family member as a conservator.
A trust is the best way to plan for an unforeseen disability without court involvement . If you become incapacitated, either mentally or physically, your successor trustee can step in and administer your estate without court involvement. You and your estate planning attorney will discuss and draft all the directions your trustee will need to administer your estate in the event of your incapacity, and make sure that you are taken care of during your illness.
You will have the power to appoint a trustee you trust to handle financial and health-related matters . A trust, along with a Durable Power of Attorney for Health Care , will provide your trustee with all the necessary direction and power to manage your health care and your finances.
For experienced and knowledgeable legal help with your estate plan in Irvine, Orange County, or southern California, contact an Orange County estate planning lawyer at our law corporation today.
Contact Mortensen & Reinheimer, PC
Orange County Estate Planning Attorneys
T: (714) 573-7149
F: (714) 573-9026
Address: 8 Corporate Park, Suite 300, Irvine, CA 92606