HF 2156

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to civil law; providing for use of financial
planners in preparing a conservator's inventory for
the court; providing a certified public accountant's
audit to be used in the conservator's annual
accounting; amending Minnesota Statutes 2004, sections
524.5-419; 524.5-420.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 524.5-419, is
amended to read:

524.5-419 INVENTORY; RECORDS.

(a) Within 60 days after appointment, a conservator deleted text begin shall
deleted text end new text begin must new text end prepare and file with the appointing court new text begin (1) new text end a detailed
inventory of the estate subject to the conservatorship deleted text begin , together
with deleted text end new text begin ; and (2) new text end an oath or affirmation that the inventory is
believed to be complete and accurate as far as information
permits.

(b) new text begin A conservator may consult with a certified financial
planner to develop a plan to manage the estate of the protected
person. The plan must be submitted to the court for its
approval within 60 days after appointment.
new text end

new text begin (c) new text end A conservator deleted text begin shall deleted text end new text begin must new text end keep records of the
administration of the estate and make them available for
examination on reasonable request of the court, ward, protected
person, or any attorney representing such persons.

Sec. 2.

Minnesota Statutes 2004, section 524.5-420, is
amended to read:

524.5-420 REPORTS; APPOINTMENT OF VISITOR; MONITORING.

(a) A conservator deleted text begin shall deleted text end new text begin must new text end report to the court for
administration of the estate annually unless the court otherwise
directs, upon resignation or removal, upon termination of the
conservatorship, and at other times as the court directs. An
order, after notice and hearing, allowing an intermediate report
of a conservator adjudicates liabilities concerning the matters
adequately disclosed in the accounting. An order, after notice
and hearing, allowing a final report adjudicates all previously
unsettled liabilities relating to the conservatorship.

(b) A report must state or contain a listing of the assets
of the estate under the conservator's control and a listing of
the receipts, disbursements, and distributions during the
reporting period. new text begin Bank records must be considered as proof of
expenditures.
new text end

(c) new text begin An audit completed by a certified public accountant who
has been approved by the court must be accepted by the court as
the report of administration of the estate.
new text end

new text begin (d) new text end The court may appoint a visitor to review a report or
plan, interview the protected person or conservator, and make
any other investigation the court directs. In connection with a
report, the court may order a conservator to submit the assets
of the estate to an appropriate examination to be made in a
manner the court directs.

deleted text begin (d) deleted text end new text begin (e) new text end The court deleted text begin shall deleted text end new text begin must new text end establish a system for
monitoring deleted text begin of deleted text end conservatorships, including the filing and review
of conservators' reports and plans.