(a)Without court order, the appointment of a conservator shall vest in the conservator the exclusive power to:
(1)Make reasonable disbursements from the annual income or, if applicable, from the annual budget amount that has been approved by the court pursuant to Code Section 29-3-30 for the support, care, education, health, and welfare of the minor;
(2)Enter into contracts for labor or services upon such terms as the conservator may deem best, but only to the extent that the annual compensation payable under such contracts when combined with other anticipated disbursements does not exceed the amount of the annual income or, if applicable, the annual budget amount which has been approved by the court pursuant to Code Section 29-3-30 ;
(3)Borrow money for one year or less and bind the m
Free access — add to your briefcase to read the full text and ask questions with AI
(a) Without court order, the appointment of a conservator shall vest in the conservator the exclusive power to: (1) Make reasonable disbursements from the annual income or, if applicable, from the annual budget amount that has been approved by the court pursuant to Code Section 29-3-30 for the support, care, education, health, and welfare of the minor; (2) Enter into contracts for labor or services upon such terms as the conservator may deem best, but only to the extent that the annual compensation payable under such contracts when combined with other anticipated disbursements does not exceed the amount of the annual income or, if applicable, the annual budget amount which has been approved by the court pursuant to Code Section 29-3-30 ; (3) Borrow money for one year or less and bind the minor or the minor's property, but only if the amount of the annual payments when combined with other anticipated disbursements does not exceed the amount of the annual income or, if applicable, the annual budget amount that has been approved by the court pursuant to Code Section 29-3-30 and only if done for purposes of paying the minor's debts, providing for the support, care, education, health, or welfare of the minor, or repairing the minor's dwelling place; (4) Receive, collect, and hold the minor's property, additions to the minor's property, and all related records, subject to subsection (d) of Code Section 29-3-41 ; (5) Retain the property received by the conservator upon the creation of the conservatorship in accordance with the provisions of Code Section 29-3-31 ; (6) Bring, defend, or participate in legal, equitable, or administrative proceedings, including alternative dispute resolution, as are appropriate for the support, care, education, health, or welfare of the minor in the name of or on behalf of the minor; (7) Fulfill, as far as possible, or, to the extent permitted by law, disaffirm the executory contracts and comply with the executed contracts of the minor; (8) Examine the will and any other estate planning documents of the minor; (9) Appoint an attorney in fact to act for the conservator when the conservator is unable to act; provided, however, that the conservator and the conservator's sureties shall be bound for the acts of the attorney as if the acts were the personal acts of the conservator; (10) Invest the minor's property pursuant to the provisions of Code Sections 29-3-32 and 29-3-33 ; (11) Sell the minor's stocks and bonds pursuant to the provisions of subsection (b) of Code Section 29-3-35 ; (12) Compromise any contested or doubtful claim for or against the minor if the proposed gross settlement as defined in Code Section 29-3-3 is in an amount not greater than $25,000.00; and (13) Release the debtor and compromise all debts in an amount not greater than $25,000.00 when the collection of the debt is doubtful. (b) (1) In the petition for appointment, or at any time during the conservatorship, the conservator may request the continuing power to: (A) Invest the minor's property in investments other than those authorized in Code Section 29-3-32 , pursuant to the provisions of Code Section 29-3-34 , without further court approval of any investment; (B) Sell, rent, lease, exchange, or otherwise dispose of any or all of the minor's real or personal property without complying with the provisions of Code Section 29-3-35 , other than the provisions for additional bond set forth in subsection (e) of Code Section 29-3-35 ; (C) Continue the operation of any farm or business in which the minor has an interest; or (D) Access the digital assets of the minor, pursuant to Code Section 53-13-20 . (2) Unless the request for the powers described in paragraph (1) of this subsection is made in the petition for the initial appointment of the conservator, the court shall order such hearing as the court deems appropriate. Notice shall be given by personal service to the minor and a guardian ad litem appointed for the minor. Notice shall be given by first-class mail to the guardian of the minor, if any; the surety on the conservator's bond; and to the following relatives of the minor whose whereabouts are known: (A) Any parent of the minor whose parental rights have not been terminated; (B) If there is no parent of the minor whose parental rights have not been terminated, the adult siblings of the minor; provided, however, that not more than three adult siblings need to be notified; (C) If there is no adult sibling of the minor, the grandparents of the minor; provided, however, that not more than three grandparents need to be notified; or (D) If there is no grandparent of the minor, any three of the nearest adult relatives of the minor determined as set forth in Code Section 53-2-1 . (c) After appointment of a guardian ad litem for the minor and such hearing as the court deems appropriate, in granting the petition for appointment of conservator or at any time during the conservatorship, the court may grant the conservator any of the following powers on a case-by-case basis: (1) To make disbursements that exceed by no more than a specific amount the annual income or, if applicable, the annual budget amount which has been approved by the court pursuant to Code Section 29-3-30 for the support, care, education, health, and welfare of the minor; (2) To enter into contracts for labor or services for which the compensation payable under the contracts when combined with other disbursements from the estate exceeds the annual income or, if applicable, the annual budget amount which has been approved by the court pursuant to Code Section 29-3-30 ; (3) To make specific investments of the minor's property that do not comply with the provisions of Code Section 29-3-32 , pursuant to the provisions of Code Section 29-3-34 ; (4) To sell, rent, lease, exchange, or otherwise dispose of specific items of the minor's real or personal property without complying with the provisions of Code Section 29-3-35 other than the provisions for additional bond set forth in subsection (e) of Code Section 29-3-35 ; (5) Pursuant to the provisions of Code Section 29-3-3 , to compromise a contested or doubtful claim for or against the minor if the proposed gross settlement as defined in Code Section 29-3-3 is in an amount greater than $25,000.00; (6) To release the debtor and compromise a debt that is in an amount greater than $25,000.00 when the collection of the debt is doubtful; (7) To establish or add property to a trust for the benefit of the minor; provided, however, that the trust must provide that the minor may revoke the trust at any time after reaching the age of majority and, unless otherwise provided by court order pursuant to Code Section 29-3-36 , the trust shall terminate upon the minor's death and any property remaining in the trust shall be paid to the minor's estate; (8) To disclaim or renounce any property or interest in property of the minor in accordance with the provisions of Code Section 53-1-20 ; (9) To access the digital assets of the minor pursuant to Code Section 53-13-20 ; (10) To engage in estate planning for the minor pursuant to the provisions of Code Section 29-3-36 ; and (11) To perform such other acts as may be in the best interest of the minor. (d) In granting any of the powers described in subsections (b) and (c) of this Code section, the court shall consider the views of the guardian, if available, or, if there is no guardian, of others who have custody of the minor. (e) In performing any of the acts described in this Code section, the conservator shall endeavor to cooperate with the guardian or, if there is no guardian, with others who have custody of the minor.