California Probate Code 2401.3 – (a) If the guardian or conservator breaches a fiduciary duty, …
(a) If the guardian or conservator breaches a fiduciary duty, the guardian or conservator is chargeable with any of the following that is appropriate under the circumstances:
(1) Any loss or depreciation in value of the estate resulting from the breach of duty, with interest.
Terms Used In California Probate Code 2401.3
- Conservator: means the conservator of the estate, or the limited conservator of the estate to the extent that the powers and duties of the limited conservator are specifically and expressly provided by the order appointing the limited conservator. See California Probate Code 2400
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Estate: means all of the conservatee's or ward's personal property, wherever located, and real property located in this state. See California Probate Code 2400
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means the guardian of the estate. See California Probate Code 2400
(2) Any profit made by the guardian or conservator through the breach of duty, with interest.
(3) Any profit that would have accrued to the estate if the loss of profit is the result of the breach of duty.
(b) If the guardian or conservator has acted reasonably and in good faith under the circumstances as known to the guardian or conservator, the court, in its discretion, may excuse the guardian or conservator in whole or in part from liability under subdivision (a) if it would be equitable to do so.
(Enacted by Stats. 1990, Ch. 79.)