Do You Need To Establish A Conservatorship In Oregon?
If you or someone you love becomes incapacitated and no longer able to manage financial affairs (with no financial power of attorney) Oregon law authorizes the court to appoint a “conservator”, commonly referred to as Oregon Conservatorships.
Someone will have to file a petition with the court to become a conservator. The court will consider whether this person is the best person to fill this role. Often the court will appoint a family member.
However, if the court believes there is no family member qualified to fill this role, the court may appoint a disinterested third party to serve as conservator. In fact, there are persons who make their livelihoods by working as professional conservators.
Helping You Be Involved In The Process
If you wish to have a voice regarding who the court appoints, you should nominate persons in order of preference in your legal documents. The court honors these preferences, if possible.
The petition to the court will state that you are unable to manage your income and property without assistance, and that you have property that will be wasted or otherwise disposed of unless management is provided by a conservator.
The petition will have to specify what is going on with the person and give examples of inability to manage financial affairs. When the court approves the petition and appoints a conservator, the person named in the petition then becomes “a protected person.”
Your conservator, once appointed, will be required to file an inventory of your assets with the court, transfer the assets from your name to the conservatorship name, and obtain a bond insuring the conservator’s honest management of your assets.
The conservator will also have to prepare and file an annual accounting with the court explaining all receipts and disbursement of your assets.
Contact Case & Dusterhoff, LLP, for more information and for assistance establishing a way to help your loved one in Oregon or Washington. Contact us online or call today in Beaverton at 503-607-8218 or toll free at 800-658-0167.