Thanks to everyone for the info about conservatorships and guardianships.
From what I have seen (and I admit I haven’t done a ton of reading since I posed my previous question) - guardianships usually apply more to minors and gives the guardian control over the person, including every-day decisions, care, etc. Conservatorships apply more to adults and give the conservator control over the person’s finances.
So for conservatorships - do people willingly place themselves under those types of control? Or is it pretty much always something that is forced on them? And since it takes a court order to make it official, is it something a person could/would fight against being put in place? I also assume that it would take a fair amount of “proof” (documentation from health professionals, etc.), to convince a judge that an adult needed that kind of oversight.
Another question - there is a difference between a conservator and a trustee - correct? IOW, it doesn’t take a court order to name a trustee in that a person can set up a trust and name a trustee on their own, without it having to be “ordered” by a judge. In LK’s case - wasn’t there some discussion at some point that she had “come into some money” (inheritance, lottery winning, insurance settlement, etc.)? So in a moment of lucidity, she could very possibly have set up a trust to help protect and preserve those assets to be drawn upon as needed.
A friend did the same when she inherited a good bit of money from a grandparent. She elected to put her share into a trust and draw enough of it each year to pay the mortgage, taxes, insurance, etc., so she didn’t have to work full time (which enabled her to focus on raising her children). One of her siblings OTOH didn’t put his funds in a trust and blew through most of it within a few years (he had an expensive hobby - racing sailboats).