Conservators are court-appointed fiduciaries who are charged with managing a protected person’s assets. They can manage a person’s money, investments, and day-to-day spending, and often sign contracts. This is a temporary position that can take time to fill. This often means that a protected person’s needs will not be fulfilled…
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Minnesota conservators are required by law to make certain reports throughout their service to the conservatorship in which they have been appointed. These reports can be annual, but they can also be required by the court at other times, including: After a notice or hearing Upon resignation or termination of…
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Establishing a guardianship has a few costs that are associated with setting it up. These can vary based on the state and county you reside in as well as whether or not you choose to work with an attorney. Who pays these fees? In most cases, and depending on the…
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All Minnesota conservatorships are required to file an accounting every year. These are meant to allow the courts to keep track of the assets and spending of a conservatorship and to ensure that the assets are being properly managed by the conservators in charge of managing them. While the way…
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If you are going to serve as the executor or personal representative of an estate in Minnesota, one of the things you must familiarize yourself with is the “final accounting.” This is an integral part of the process that must be completed if the estate is going through a formal…
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Establishing a conservatorship for a minor in Minnesota may be required by the courts if the minor is set to inherit more than $5,000 from an estate, life insurance policy, or other inheritance. In the event that a conservatorship is required, there are several things that you should consider before you get started. Conservatorships Differ from Guardianships You may or may not…
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Those subject to conservatorships in the state of Minnesota are guaranteed certain rights and protections, as dictated by state law. These are put in place to protect against numerous things, including fraud, mismanagement of funds, abuse, etc. Whether you are a person who is subject to a conservatorship or are assuming the role of a conservator in…
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It’s not uncommon for those managing a conservatorship for a protected person in Minnesota to have to confront the challenge presented by vacant properties. It’s common that a protected person may still possess a piece of property where they no longer reside, but that property may still need to be protected by some type of insurance. As a conservator,…
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Those who are conservators in Minnesota should be familiar with a few things: MyMNConservator: the online portal where conservators can take place in the statewide accounting review program which occurs every year. The Conservator Account Auditing Program (CAAP): the statewide auditing program of conservators that is conducted regularly. The Conservator Account Review Program (CARP): a newer program that…
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Conservators are charged with managing the assets of a protected person, including real estate. There may come a time when one of the properties owned by the protected person must be sold. Whether this is simply the best financial decision for the protected person, or the funds made from the sale will be needed…
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