What is a Conservator?
A person who is appointed by the court to manage the property of a minor or incapacitated person.
Who is an Incapacitated Person?
A person who is unable to manage property and business affairs because of....
mental illness mental deficiency physical illness infirmities accompanying advanced age chronic use of drugs chronic intoxication confinement detention by foreign power disappearance
Who can serve as a Conservator?
A family member or any interested person with the priorities as follows:
conservator appointed in another jurisdiction person selected by incapacitated person person designated by incapacitated person's power of attorney spouse adult child parent relative with whom ward has lived last six months nominee of person caring for incapacitated person general guardian of sheriff
When can a Conservator be appointed?
A conservator may be appointed when an incapacitated person:
What are the powers and duties of a conservator?
Without court authorization the conservator may:
invest and reinvest funds retain assets receive additions acquire undivided interest deposit funds in financial institutions acquire property dispose of personal property make repairs to building enter leases up to 5 years enter mineral leases grant options up to one year vote securities pay assessments sell or exercise stock options deposit stock and bonds consent to reorganization, merger of a business insure assets borrow to protect estate settle claims pay reasonable annual compensation to conservator pay taxes and expenses allocate expenses to income pay sum of benefit of protected person or his family employ attorneys, auditors prosecute or defend claims execute and deliver appropriate instruments hold securities court may limit powers of conservator With prior court authorization the conservator may:
continue or participate in operating business demolish improvements dispose of real estate subdivide, dedicate land leases greater than 5 years grant an option more than one year take an option to acquire property
Is a bond required?
Yes, a bond is required for conservatorship unless the bond requirement was waived in a will or power of attorney .
Is an inventory required?
Each conservator must complete an inventory of the estate immediately and file it with the court within 90 days after appointment.
Are accountings required?
Yes, a conservator must give an accounting to the court at least every three years. The court may order an accounting more frequently. An accounting is also required upon the resignation or removal of the conservator.
What is a Guardian?
The parent of a minor or someone who has been appointed by the court to be responsible for the personal care of an individual.
What is a ward?
Legal name for a person for whom a guardian has been appointed.
Who can be a Guardian for an adult?
Any qualified person may be appointed. However, the law establishes the following priorities:
person named in a durable power of attorney spouse or spouse's nominee adult child parent of parent's nominee relative with whom person has lived the prior 6 months nominee of caretaker of person
Who can be a Guardian for a child?
The court may appoint any person that'll be in the best interest of the minor. However, if the minor is 14 years old or older, the minor's nominee must be appointed unless the appointment is contrary to the minor's best interest.
What are the powers of a Guardian?
must assume responsibilities of a parent regarding support, care and education must become personally acquainted with ward must take reasonable care of ward's personal effects must apply available money for current needs or health, support, education and maintenance must conserve excess money must report the condition of the ward to the court may receive limited funds for support of ward may take custody of ward and establish a home may compel payment of support may consent to medical care may consent to marriage or adoption may delegate certain responsibilities to the ward for the decision making court may limit powers of guardianship
When does a guardianship end?
upon death of ward upon resignation of the guardian upon adoption of the minor upon marriage of the minor upon minor becoming an adult when ward's incapacity is terminated
