§ 5-425. Powers of conservator in administration
(a) Except as otherwise qualified or limited by the Court in its order of appointment and endorsed on the letters, a conservator has all of the powers granted in this section and any additional powers granted by law to a trustee in the Virgin Islands. (b) A conservator, acting reasonably and in an effort to […]
§ 5-426. Delegation
(a) A conservator may not delegate to an agent or another conservator the entire administration of the estate, but a conservator may otherwise delegate the performance of functions that a prudent trustee of comparable skills may delegate under similar circumstances. (b) The conservator shall exercise reasonable care, skill, and caution in: (1) selecting an agent; […]
§ 5-427. Principles of distribution by conservator
(a) Unless otherwise specified in the order of appointment and endorsed on the letters of appointment or contrary to the plan filed pursuant to section 5-418, a conservator may expend or distribute income or principal of the estate of the protected person without further court authorization or confirmation for the support, care, education, health, and […]
§ 5-428. Death of protected person
(a) If a protected person dies, the conservator shall deliver to the Court for safekeeping any will of the protected person which may have come into the conservator’s possession, inform the personal representative or beneficiary named in the will of the delivery, and retain the estate for delivery to the personal representative of the decedent […]
§ 5-416. Terms and requirements of bond
(a) The following rules apply to any bond required: (1) Except as otherwise provided by the terms of the bond, sureties and the conservator are jointly and severally liable. (2) By executing the bond of a conservator, a surety submits to the jurisdiction of the court that issued letters to the primary obligor in any […]
§ 5-417. Compensation and expenses
If not otherwise compensated for services rendered, a guardian, conservator, lawyer for the respondent, lawyer whose services resulted in a protective order or in an order beneficial to a protected person’s estate, or any other person appointed by the Court is entitled to reasonable compensation from the estate. Compensation may be paid and expenses reimbursed […]
§ 5-418. General duties of conservator; plan
(a) A conservator, in relation to powers conferred by this part or implicit in the title acquired by virtue of the proceeding, is a fiduciary and shall observe the standards of care applicable to a trustee. (b) A conservator may exercise authority only as necessitated by the limitations of the protected person, and to the […]
§ 5-419. Inventory; records
(a) Within 60 days after appointment, a conservator shall prepare and file with the appointing Court a detailed inventory of the estate subject to the conservatorship, together with an oath or affirmation that the inventory is believed to be complete and accurate as far as information permits. (b) A conservator shall keep records of the […]
§ 5-420. Reports; appointment of visitor; monitoring
(a) A conservator shall report to the Court for administration of the estate annually unless the Court otherwise directs, upon resignation or removal, upon termination of the conservatorship, and at other times as the Court directs. An order, after notice and hearing, allowing an intermediate report of a conservator adjudicates liabilities concerning the matters adequately […]
§ 5-413. Who may be conservator; priorities
(a) Except as otherwise provided in subsection (d), the Court, in appointing a conservator, shall consider persons otherwise qualified in the following order of priority: (1) a conservator, guardian of the estate, or other like fiduciary appointed or recognized by an appropriate court of any other jurisdiction in which the protected person resides; (2) a […]