If you are moving to Minnesota and are acting as a fiduciary as part of a conservatorship or guardianship, it is possible to transfer your status as a conservator or guardian from your current state to one in Minnesota.
The process isn’t overly complicated, but it involves navigating the legal process and should not be taken lightly. If you need to transfer your status as a conservator or guardian, make sure you work with any attorney who is familiar with this type of law in Minnesota.
For more information on transferring a guardianship or conservatorship to Minnesota, see https://www.revisor.mn.gov/statutes/cite/524.5-802.
What Minnesota Law Says About Transferring Fiduciary Roles
According to MN Statute 524.5-802 (please refer to current MN state law as it can change from year to year), it is possible to accept a guardianship or conservatorship from another state.
There are several steps that must be completed to successfully transfer a fiduciary’s guardian or conservator status from another state:
- The guardian or conservator must petition the court in Minnesota to accept the current guardianship or conservatorship. This petition must include a certified copy of the current state’s provisional order of transfer.
- If anyone is entitled to be notified of the transfer, they must be given notice. This includes the protected person and any other applicable party.
- A court hearing will likely be required in Minnesota to finalize the transfer, review the guardian/conservator and hear any objections to the transfer.
- The court will issue a final order accepting or denying the transfer/appointment of the guardian or conservator.
See more about how guardians and conservators are appointed in Minnesota here.
Surety Bonds in Minnesota
In most cases, a surety bond will have to be obtained for any guardianship or conservatorship in Minnesota. These bonds generally need to be obtained as a part of the appointment process and before the court makes a final ruling on the appointee. If you are planning on transferring your fiduciary status to the state of Minnesota, contact The Patrick J. Thomas Agency for more information on how you can obtain a surety bond in the state of Minnesota.
Disclaimer: this is for informational purposes only and is not intended to be legal advice. If you need legal counsel, please contact an attorney directly.