As individuals age, their capacity and sound judgment may diminish as a result of dementia, Alzheimer’s, or other medical, psychological, or cognitive conditions. Should their capacity diminish to the point they can no longer manage their financial affairs or personal wellbeing, a third party may need to be appointed to act on behalf of/for their best interests.

If the person under incapacity signed appropriate powers of attorney before their symptoms became severe, their named agent can likely handle their necessary financial and personal affairs. If no powers of attorney are in place, however, it may become necessary for a friend or family member to petition a court to be appointed as the incapacitated person’s guardian or conservator.

In Colorado, a guardian manages the incapacitated person’s personal affairs and medical care, while a conservator manages the incapacitated person’s financial affairs and assets. These can often (though not always) be the same individual. Once appointed, the guardian or conservator is subject to strict and specific responsibilities and must file regular detailed reports with the  court.

Rounds & Bowman can assist you in determining whether a loved one may be in need of a guardianship or conservatorship, and if so, represent and guide you in petitioning a court for appointment as guardian or conservator, fulfilling your necessary duties as guardian or conservator, and preparing and filing the necessary court reports.

Imposing a guardianship or conservatorship on an individual is an extreme remedy that significantly limits or completely takes away the person’s right to make decisions about their own personal and/or financial affairs. For this reason, it should be considered a last resort only if the impacted person’s incapacity is sustained, significantly impacts their physical or financial wellbeing, and no other reasonable alternatives are available. Periodic lapses in memory or questionable judgement may be insufficient bases upon which to seek guardianship or conservatorship.