• March 7, 2021

What Protections are Available Under Minnesota Conservatorships

What Protections are Available Under Minnesota Conservatorships

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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 Minnesota, it’s important to understand what rights and protections the state affords. 

Rights of People Subject to a Conservatorship

Those subject to a conservatorship are guaranteed certain rights by the state of Minnesota. These are outlined in Minn. Stat. § 524.5 – 120. It’s important to know and understand these rights. You can find a complete list of them here. 

Audits by the State

In order to protect subjects of conservatorships in Minnesota, all conservators must submit annual accountings to the state and can be reviewed by one of two programs: 

  1. The Conservator Account Auditing Program (CAAP): the statewide auditing program of conservators that is conducted regularly.  
  2. The Conservator Account Review Program (CARP): a newer program that provides a regular review of accounts not subject to CAAP audits. 

These programs are designed to oversee the finances of a conservatorship and ensure that the accounts are being managed properly. Conservatorships are also generally subject to court review, which is a more extensive review of the accounts. These reviews often ask for many documents, including copies of official bank statements, an accounting of all assets, copies of bills, receipts, credit card statements, and more. 

Surety Bonds 

Many conservatorships will be required by the courts to obtain a surety bond. Even if they are not required, it is still a good idea to obtain one. These types of surety bonds protect the person subject to the conservatorship should the conservator fail in their duties. The bond protects the affected party’s assets and finances and can provide payments should their accounts be affected.  

These bonds are not hard to obtain, but they must be obtained by the person who is going to be appointed as the conservator. 

 

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. 

 

If you have been required to obtain a conservatorship surety bond, we can help. Get in touch with the surety experts at The Patrick J. Thomas Agency today.