Can a conservator in Wisconsin create trusts with the conservatee's assets?

Asked 11 months ago - Medford, WI

Attorney wants to transfer all assets into both irrevocable and revocable trusts

Attorney answers (3)

  1. Maxwell Charles Livingston

    Pro

    Contributor Level 13

    1

    Lawyer agrees

    Answered . Typically, the answer would be "yes", but it would depend on what powers have been entrusted to the conservator. Typically, an Attorney would need to review papers and discuss with Conservator's counsel to see whether this would appropriate.

  2. Ruth Elaine McMahon

    Contributor Level 18

    2

    Lawyers agree

    Answered . It depends on the powers given to the conservator under a court order, power of attorney or whatever document gives the conservator powers. Ask the attorney to point out the authority to do so.

  3. David L. Carrier

    Pro

    Contributor Level 18

    1

    Lawyer agrees

    Answered . Q: Can a conservator in Wisconsin create trusts with the conservatee's assets?
    A: Good Luck! It really depends on the presiding probate court judge's philosophy and inclinations. There are good reasons to establish some trusts, for example a D4A Medicaid payback trust that preserves current benefits as well as the trust assets for discretionary purposes. Medicaid gets the leftovers after death. Worth a try!

    This is not legal advice. I am not your lawyer. You are not my client. You cannot rely on my response to your... more

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