Section 700.5424 – Powers Regarding Environmental Matters.
700.5424 Powers regarding environmental matters. Sec. 5424. (1) To respond to an environmental concern or hazard affecting property, the conservator may do any of the following: (a) Inspect property and the operation of business activity on property held by the conservator, including property held in or operated by a sole proprietorship, partnership, corporation, or limited […]
Section 700.5425 – Distributive Duties and Powers of Conservator.
700.5425 Distributive duties and powers of conservator. Sec. 5425. A conservator may expend or distribute estate income or principal without court authorization or confirmation for the support, education, care, or benefit of the protected individual or the protected individual’s dependents in accordance with the following principles: (a) The conservator shall consider a recommendation relating to […]
Section 700.5410 – Bond.
700.5410 Bond. Sec. 5410. (1) The court may require a conservator to furnish a bond. If the court determines that the value of cash and property that is readily convertible into cash in the estate and in the conservator’s control exceeds the limit for administering a decedent’s estate under section 3982, adjusted in the manner […]
Section 700.5411 – Terms and Requirements of Bonds.
700.5411 Terms and requirements of bonds. Sec. 5411. (1) The following requirements and provisions apply to a bond required under section 5410: (a) Unless otherwise provided by the terms of the approved bond, sureties are jointly and severally liable with the conservator and with each other. (b) By executing an approved bond of a conservator, […]
Section 700.5412 – Qualification; Limitation and Procedure With Regard to Specified Assets; Consent to Jurisdiction.
700.5412 Qualification; limitation and procedure with regard to specified assets; consent to jurisdiction. Sec. 5412. (1) Before receiving letters, a conservator must qualify by filing with the appointing court a required bond and a statement of acceptance of the duties of the office. (2) In filing the statement of acceptance, the conservator may exclude from […]
Section 700.5413 – Compensation and Expenses.
700.5413 Compensation and expenses. Sec. 5413. If not otherwise compensated for services rendered, a visitor, guardian ad litem, attorney, physician, conservator, or special conservator appointed in a protective proceeding, is entitled to reasonable compensation from the estate. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Section 700.5414 – Death, Resignation, or Removal of Conservator.
700.5414 Death, resignation, or removal of conservator. Sec. 5414. The court may remove a conservator for good cause, upon notice and hearing, or accept a conservator’s resignation. Upon the conservator’s death, resignation, or removal, the court may appoint another conservator. A conservator so appointed succeeds to the title and powers of the predecessor. History: 1998, […]
Section 700.5415 – Petitions for Orders Subsequent to Appointment.
700.5415 Petitions for orders subsequent to appointment. Sec. 5415. (1) A person interested in the welfare of an individual for whom a conservator is appointed may file a petition in the appointing court for an order to do any of the following: (a) Require bond or security or additional bond or security, or reduce bond. […]
Section 700.5416 – General Duty of Conservator.
700.5416 General duty of conservator. Sec. 5416. In relation to powers conferred by this part or implicit in the title acquired by virtue of the proceeding, a conservator shall act as a fiduciary and observe the standard of care applicable to a trustee. History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Section 700.5407 – Permissible Court Orders.
700.5407 Permissible court orders. Sec. 5407. (1) The court shall exercise the authority conferred in this part to encourage the development of maximum self-reliance and independence of a protected individual and shall make protective orders only to the extent necessitated by the protected individual’s mental and adaptive limitations and other conditions warranting the procedure. Accordingly, […]