What are the duties of a conservator?
Within 56 days of being appointed, the conservator must file an Inventory. The Inventory is a listing of all assets of the adult. Assets may consist of real estate, stocks, bonds, certificates of deposit, savings and checking accounts, and personal belongings and everything in which the adult has an interest. It is the duty of the conservator to care for and preserve all of the assets of the adult and to represent the adult in any legal proceeding. The conservator must keep careful records of all income of the adult and all disbursements of the adults funds. The conservator must keep the adults assets separate from his or her own assets and never borrow from the adults assets. It is the duty of the conservator to file an Annual Account each year within 56 days after the anniversary date of the conservators appointment. They must also give a copy of the account to the adult and the persons listed on the conservatorship petition.
1. Within 56 days of being appointed, the conservator must file an Inventory. The Inventory is a listing of all assets of the minor. Assets may consist of real estate, stocks, bonds, certificates of deposit, savings and checking accounts and personal belongings and everything in which the minor has an interest. 2. It is the duty of the conservator to care for and preserve all of the assets of the minor and to represent the minor in any legal proceeding. 3. The conservator must keep careful records of all income of the minor and all disbursements of the minors funds. The conservator must keep the minors assets separate from his or her own and never borrow from the minors assets. 4. It is the duty of the conservator to file an Annual Account each year within 56 days after the anniversary date of the conservators appointment. The Account must list receipts (monies in) and disbursements (monies out). Save your receipts; one must be presented to the court for each disbursement.
