Save time with our cheat sheets, fact sheets, checklists & books!

February 19, 2009

Conservatorship

Your Guide

Share on print
Print
Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Definition

Legal document issued by the court, appointing a legal guardian to handle the financial affairs of a person who is unable to handle such affairs due to  being physically and/or mentally incapacitated.

An individual who has a durable power of attorney may negate the need to have the court appoint a conservator

Referring Cite

State law

Additional Helpful Information

The IRA custodian/trustee or plan trustee should review the document to determine whether it places any limitations on the transactions that can be legally performed by the conservator.

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Share on print
More

Keep Learning

Annual Benefit Limit

Definition The annual benefit limit for defined benefit plans is the lesser of: A) 100% of the participant’s average compensation for his or her highest

Be among the first to know when

IRA Rules
Change