Iowa Code 633.642 – Responsibilities of conservator
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Terms Used In Iowa Code 633.642
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
633.642 Responsibilities of conservator.
Except as otherwise ordered by the court, a conservator must give notice to persons entitled to notice and receive specific prior authorization by the court before the conservator may take any other action on behalf of the protected person. These other powers requiring court approval include the authority of the conservator to:
1. Invest the protected person’s assets consistent with § 633.123.
2. Make gifts on the protected person’s behalf from conservatorship assets to persons or religious, educational, scientific, charitable, or other nonprofit organizations to whom or to which such gifts were regularly made prior to the conservator’s appointment; or on a showing that such gifts would benefit the protected person from the perspective of gift, estate, inheritance, or other taxes. No gift shall be allowed which would foreseeably prevent adequate provision for the protected person’s best interest.
3. Make payments consistent with the conservator’s plan described above directly to the protected person or to others for the protected person’s education and training needs.
4. Use the protected person’s income or assets to provide for any person that the protected person is legally obligated to support.
5. Compromise, adjust, arbitrate, or settle any claim by or against the protected person or the conservator.
6. Make elections for a protected person who is the surviving spouse as provided in sections 633.236 and 633.240.
7. Exercise the right to disclaim on behalf of the protected person as provided in section
633E.5.
8. Sell, mortgage, exchange, pledge, or lease the protected person’s real and personal property consistent with subchapter VII, part 6 of this chapter regarding sale of property from a decedent‘s estate.
2019 Acts, ch 57, §33, 43, 44
Referred to in §633.648
Except as otherwise ordered by the court, a conservator must give notice to persons entitled to notice and receive specific prior authorization by the court before the conservator may take any other action on behalf of the protected person. These other powers requiring court approval include the authority of the conservator to:
1. Invest the protected person’s assets consistent with § 633.123.
2. Make gifts on the protected person’s behalf from conservatorship assets to persons or religious, educational, scientific, charitable, or other nonprofit organizations to whom or to which such gifts were regularly made prior to the conservator’s appointment; or on a showing that such gifts would benefit the protected person from the perspective of gift, estate, inheritance, or other taxes. No gift shall be allowed which would foreseeably prevent adequate provision for the protected person’s best interest.
3. Make payments consistent with the conservator’s plan described above directly to the protected person or to others for the protected person’s education and training needs.
4. Use the protected person’s income or assets to provide for any person that the protected person is legally obligated to support.
5. Compromise, adjust, arbitrate, or settle any claim by or against the protected person or the conservator.
6. Make elections for a protected person who is the surviving spouse as provided in sections 633.236 and 633.240.
7. Exercise the right to disclaim on behalf of the protected person as provided in section
633E.5.
8. Sell, mortgage, exchange, pledge, or lease the protected person’s real and personal property consistent with subchapter VII, part 6 of this chapter regarding sale of property from a decedent‘s estate.
2019 Acts, ch 57, §33, 43, 44
Referred to in §633.648