Lang Law Office

Estate Planning and Probate, Business Law,
Real Estate and Family Law

Menu

Helping You Navigate Complex
Legal Issues

Helping You Navigate Complex Legal Issues

Examining your annual duties as a conservator

Gregory A. Lang

Several of those in Hennepin who have sought advice from us here at the Lang Law Office regarding their roles as conservators often know little about what’s expected of them. If you have been asked to fulfill such a role for a family member or friend, you may want to become familiar with the responsibilities that it entails. The state of Minnesota requires that you fulfill certain obligations as a conservator in order to retain such a role. The website for the state’s judicial branch goes into these in great detail.

When you’re appointed as a conservator, you need to make an account of all of the assets owned by your ward. Once you have that information, you are required to the MyMNConservator system and list those assets in an inventory report. This must be done within 60 days of your appointment.

It’s also recommended that you mark down your appointment date, as every year there are certain obligations that must be fulfilled within 30 days of your anniversary date. One of these tasks includes filling out an Annual Accounting in the MMC system. This report shows all the activity involved with your ward’s estate. It’s recommended that you establish a separate bank account for all of his or her assets to assist you in tracking them.

The second annual task you need to perform is to complete the Annual Notice of Right to Petition to Restoration of Capacity. Once this is done, you must provide copies of this notice to all parties deemed necessary to receive them by the court, including your ward.

Further information on your duties as a conservator can be found on our site. 

No Comments

Leave a comment
Comment Information

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.