524.5-422 INTEREST OF PERSON SUBJECT TO CONSERVATORSHIP NONALIENABLE. (a) Except as otherwise provided in paragraphs (c) and (d), the interest of a person subject to conservatorship in property is not transferable or assignable by the person subject to conservatorship. An attempted transfer or assignment by the person subject to conservatorship, although ineffective to affect property […]
524.5-423 SALE, ENCUMBRANCE, OR OTHER TRANSACTION INVOLVING CONFLICT OF INTEREST. Any transaction involving the conservatorship estate which is affected by a conflict between the conservator’s fiduciary and personal interests is voidable unless the transaction is expressly authorized by the court after notice to interested persons. A transaction affected by a conflict between personal and fiduciary […]
524.5-424 PROTECTION OF PERSON DEALING WITH CONSERVATOR. (a) A person who assists or deals with a conservator in good faith and for value in any transaction other than one requiring a court order under section 524.5-410 or 524.5-411 is protected as though the conservator properly exercised the power. The fact that a person knowingly deals […]
524.5-426 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 person of comparable skills may delegate under similar circumstances. (b) The conservator shall exercise reasonable care, skill, and caution in: (1) selecting […]
524.5-427 PRINCIPLES OF DISTRIBUTION BY CONSERVATOR. (a) Unless otherwise specified in the order of appointment and endorsed on the letters of appointment, a conservator may expend or distribute income or principal of the estate of the person subject to conservatorship without further court authorization or confirmation for the support, care, education, health, and welfare of […]
524.5-428 DEATH OF PERSON SUBJECT TO CONSERVATORSHIP. (a) If a person subject to conservatorship dies, the conservator shall deliver to the court for safekeeping any will of the deceased person subject to conservatorship which may have come into the conservator’s possession, inform the personal representative named in the will of the delivery, and retain the […]
524.5-429 CLAIMS AGAINST PERSON SUBJECT TO CONSERVATORSHIP. (a) A conservator may pay, or secure by encumbering assets of the estate, claims against the estate or against the person subject to conservatorship arising before or during the conservatorship upon their presentation and allowance in accordance with the priorities stated in paragraph (d). A claimant may present […]
524.5-430 PERSONAL LIABILITY OF CONSERVATOR. (a) Except as otherwise agreed, a conservator is not personally liable on a contract properly entered into in a fiduciary capacity in the course of administration of the estate unless the conservator fails to reveal in the contract the representative capacity and identify the estate. (b) A conservator is personally […]
524.5-431 TERMINATION OF PROCEEDINGS. (a) A conservatorship terminates upon the death of the person subject to conservatorship or upon order of the court. Unless created for reasons other than that the person subject to conservatorship is a minor, a conservatorship created for a minor also terminates when the person subject to conservatorship attains majority or […]
524.5-432 PAYMENT OF DEBT AND DELIVERY OF PROPERTY TO FOREIGN CONSERVATOR WITHOUT LOCAL PROCEEDING. (a) A person who is indebted to or has the possession of tangible or intangible property of a person subject to conservatorship may pay the debt or deliver the property to a foreign conservator, guardian of the estate, or other court-appointed […]
524.5-433 FOREIGN CONSERVATOR: PROOF OF AUTHORITY; BOND; POWERS. If a conservator has not been appointed in this state and a petition in a protective proceeding is not pending in this state, a conservator appointed in the state in which the person subject to conservatorship resides may file in a court of this state, in a […]
