Conservatorship- the process in which a court/judge appoints someone to act on behalf of a loved one because the person can no longer make decisions or care for themselves. Usually seen in parent/adult-child scenarios where the parent may be experiencing dementia or alzheimer’s or some other ailment that affects making sound decisions.
Guardianship- the process in which a court/judge appoints someone to care and manage the affairs of another person. This usually occurs in instances where the parents of minor children have passed away or no longer a part of their lives. In Georgia ‘conservatorship is addressed under guardianship’.
Living Trust- a legal document where your assets are placed in a ‘trust’ during your lifetime, and distributed to your beneficiaries upon your death as per your instructions in the ‘trust’. However; a ‘living trust’ may still go through probate if it is not properly written or fully funded. This can occur if you were to refinance your home, or get a line of credit without ‘refunding’ the trust.
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