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Conservators are entitled to reasonable compensation from the estate, if not otherwise compensated for services rendered.
Generally it can be said that the guardian makes decisions about the person, such as medical or housing decisions, and the conservator makes decisions about the property or the finances of the person. A guardian and a conservator can be the same person or institution or they may be different.
Generally it can be said that the guardian makes decisions about the person, such as medical or housing decisions, and the conservator makes decisions about the property or the finances of the person.
?The court may appoint a conservator in relation to the estate and affairs of an individual who is mentally competent, but due to age or physical infirmity is unable to manage his or her property and affairs effectively and who, recognizing this disability, requests a conservator's appointment.? MCL 700.5401(4).
Conservatorship can help protect the conservatee's assets and ensure that their medical and financial needs are being taken care of. However, it is worth noting that a conservatorship can also be a difficult adjustment for the conservatee, as it limits their ability to make decisions about their own life.
(a) Collect, hold, or retain estate property, including land in another state, until the conservator determines that disposition of the property should be made. Property may be retained even though it includes property in which the conservator is personally interested. (b) Receive an addition to the estate.
The primary duty of a conservator is to preserve the assets of the protected individual. A conservator also has the duty to use the protected individual's money for the support, education, care and benefit of the protected individual and his or her dependents.
Fill out the following forms: PC 639, Petition for Appointment of Conservator and/or Protective Order. ... PC 617, Declaration of Intent to Give Notice by Publication. ... MC 505, Contact Information. ... MC 97, Protected Personal Identifying Information. PC 571, Acceptance of Appointment (signed by proposed conservator)