conservatorship


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A status, defined by the jurisdiction, in which a conservatee—usually an elderly and/or mentally incompetent person—is under the control of another—conservator—vis-à-vis fiscal or contractual affairs, but not regarding the physical person or body—as with consent to medical or surgical treatment

conservatorship

(kŏn-sĕr′vă-tor-shĭp″)
The preservation and protection of a dependent person's self and property by another individual. The term does not refer to imprisonment or confinement in a psychiatric facility. This is called guardianship in some states.
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References in periodicals archive ?
This means all insurance contracts issued before the conservatorship order remain valid and the obligation of the company towards its policyholders still exists until the expiration of their policies.
Funa clarified that placing these companies under conservatorship does not necessarily mean they will close shop.
A general power of attorney wouldn't be of much use in warding off a potential conservatorship.
Additionally, we find strong negative valuation effects from the conservatorship announcement for Fannie Mae and Freddie Mac.
Her father is now in control of her affairs and lawyers for Jamie Spears petitioned for lengthy restraining orders against the men in January, arguing they were conspiring to undermine the conservatorship.
A recent Atlanta Fed working paper looks at the events leading up to the conservatorship of the GSEs.
Catherine Falk said her Oscar-nominated father "requires full-time custodial care for his health and safety" as she started the legal process of asking for a conservatorship - a type of legal guardianship - at the Los Angeles County Superior Court.
But attorney Jon Eardley vowed to continue his battle on behalf of the 26-year-old singer, saying he will now challenge the conservatorship order on two key issues.
The bill also requires probate courts to review conservatorships, including the financial records related to the conservatorship, within six months after appointment of the conservator and annually thereafter.
The power to make legal decisions for another individual is done through guardianship or conservatorship.
Most of the new auditing guidance relates to examples of legal opinions that auditors will need to obtain and review with regard to transfers of financial assets by banks subject to receivership or conservatorship under provisions of the Federal Deposit Insurance Act.
Guardianship and Conservatorship, A Handbook for Lawyers offers a practical, hands-on guide to the sensitive issues surrounding guardianship and conservatorship.