Serving as a conservator is a long-term commitment. Whether you’re managing the finances of an elderly parent, an adult with disabilities, or another protected person, your role continues year after year, and so does your responsibility to remain properly bonded. When a court first appoints a conservator, it typically…
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When someone is unable to manage their own finances or personal affairs, the court or a government agency may appoint another person to help. In some cases, that individual might serve both as a representative payee and a guardian or conservator. If you’ve been asked to take on one…
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When a loved one can no longer care for themselves or manage their own finances, the court may step in to appoint someone to act in their best interest. This often involves assigning a guardian, a conservator, or in some cases, both. If you want to help out a close…
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The Minnesota Judicial Branch has recently made several updates to its MyMNConservator (MMC) online application, a tool used by conservators to file inventory and annual accountings electronically. Originally launched in 2014, MMC is designed to simplify the reporting process for conservators and improve transparency and accuracy in managing finances for…
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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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