Chayet & Danzo, LLC Chayet & Danzo, LLC
Law Pay

Call for a Free Initial Consultation

Direct 303-872-5980
Toll-Free 888-472-1088
Email Us


After careful review of the COVID-19 environment, the law firm of Chayet & Danzo, LLC, will be conducting in-person appointments in our offices on a limited basis and with strict social distancing protocols.

During this time, our team will continue to diligently work remotely on all client matters and will maintain communication through email, telephone, and video conferencing. Our main office number, (303) 355-8500 will continue to be answered during our normal business hours of 8:00 a.m. to 5 p.m. Monday - Thursday and 8:00 a.m. to 4:00 p.m. on Fridays.

This decision to have limited appointments in-office while following strict social distancing protocols is in the best interest and health of our team, clients and community.

We will continue accepting new clients during this period as well as fully servicing our existing clients.

We wish you and your family continued health during these unique and challenging times.

Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

Dealing with incapacity in Colorado, part 2: Conservators

What is the difference between a guardian and conservator in Colorado? Can one person serve in both roles?

A guardian makes decisions and is responsible for the protected person’s well being, while a conservator handles the person’s estate and finances. It is possible that the same person could handle both roles.

Having a power of attorney or advance directives in place can avoid the need for probate court to determine incapacity and appoint a guardian and conservator. However, these documents are not always in place before they are needed.

Handling the finances

The Colorado Judicial Branch provides more information about the role of a conservator. Some of the main duties of a conservator include:

  • Locating, managing and investing all assets 
  • Dealing with insurance matters, including making sure that policy premiums continue to be paid
  • Filing tax returns and paying federal and state taxes

A conservator will develop a financial plan that the court reviews and then track transactions through checkbook registers or spreadsheets. Occasional reporting to the court is another requirement. An accounting or finance background can help, but a child or close relative can also handle the role with some organization and patience.

If the protected person owns real estate, a conservator will need to record Letters in the county clerk or recorder’s office where the property is located. Bank accounts may also need to be transferred to the conservatorship.

A joint checking/savings account or an interest in a business may bring up more questions. The answers are often highly fact specific and often best answered by an attorney.

Following the death of a protected person, the conservator files a petition to terminate the conservatorship and also a schedule with distributions. After a death, a conservator’s role is limited to protecting estate assets and paying funeral expenses.

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Toll Free: 1-888-472-1088
Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
Edwards, CO 81632

Toll Free: 888-472-1088
Toll Free: 1-888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Toll Free: 1-888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet
  • Rated by Super Lawyers Frank J. Danzo, III
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell