The Basics of Conservatorship

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The Basics of Conservatorship

 

What is a Conservator?

A Conservator, in Arizona, is a person appointed by the court to make decisions for an incapacitated adult related to the management of his or her property and income. The same general process for appointment of a guardian is used for appointment of a conservator. The incapacitated person is referred to as the "protected person." A conservator has the powers and responsibilities of a fiduciary. This is a high standard of care. Within 90 days of appointment, the conservator must file an inventory of the estate (assets, including real property, personal property, bank accounts and investments) of the protected person. Thereafter, the accounting must be filed every year. It must show all amounts used out of the estate of the protected person and all assets obtained. A conservator has the power to invest funds of the estate and to distribute funds reasonably necessary for the support, care, education, or benefit of the protected person and those legally dependant on the protected person.

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