Michigan Sample Letter regarding Order Transferring Matter of Conservatorship
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How to fill out Sample Letter Regarding Order Transferring Matter Of Conservatorship?
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FAQ
A conservator is responsible for the collection, preservation, and investment of the individual's property and must use the property for the support, care, and benefit of the individual and his or her dependents.
The statute also authorizes a conservator to sell or otherwise dispose of an interest in real estate, but only with court approval after a hearing with notice to interested persons. MCL 700.5423(3). A conservator is a fiduciary and must observe the standard of care applicable to a trustee.
Conservators: A conservator may only change a ward's beneficiary designations after notice to all affected parties, a court hearing, and upon express authorization of the court.
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) 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 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).
?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).
Conservators are entitled to reasonable compensation from the estate, if not otherwise compensated for services rendered.
