What is a Conservator?
Conservatorship deals only with the financial affairs of an individual. A conservator may be appointed by the Probate Court when an individual does not have the capacity to manage his or her financial affairs. A person under conservatorship is known as a protectee.
Brief Overview of the Responsibilities of the Conservator (RSMo 475.130 - 475.270)
After Letters of Conservatorship are issued by the Probate Court, the conservator has 30 days to take possession of the protectee's assets and to file an Inventory and Appraisement in the court showing the assets and their value. If more time is needed, a request for an extension may be filed. These figures begin the accounting cycle and then, annually, a Settlement must be filed showing in detail all receipts and expenditures occurring during the preceding year.
Separate bank accounts are to be kept for each protectee and the property, income and bank accounts are not to be co-mingled with the personal property of the conservator.
The protectee's funds may only be spend for purposes authorized by statute or court order and the protectee's property may not be sold, traded, leased, mortgaged, transferred or discarded without court approval.
A conservator shall, under the supervision of the court, protect, preserve and manage the estate, invest it prudently and account for it faithfully. In protecting, preserving, managing and investing the estate, the conservator is under a duty to use the degree of care, skill and prudence which an ordinarily prudent man uses in managing property of, and conducting transactions on behalf of others. A conservator is under a duty to act in the interest of the protectee and to avoid conflicts of interest which impair his ability so to act.
Responsibilities of Public Administrator
Hours: 8 a.m - 4:30 p.m.
Monday-Friday (except holidays)
101 S. Wood St.
Neosho, MO 64850