Iowa Code 633.642 – Responsibilities of conservator
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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 section 633.123.
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.
- Conservator: means a person appointed by the court to have the custody and control of the property of an adult under the provisions of this chapter. See Iowa Code 633.701
- Court: means , when referring to a court of this state, the district court sitting in probate with jurisdiction of conservatorships and guardianships. See Iowa Code 633.701
- Decedent: A deceased person.
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- 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 an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, or government; governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See Iowa Code 633.701
- Property: includes both real and personal property. See Iowa Code 633.3
- Protected person: means an adult for whom a conservatorship has been issued. See Iowa Code 633.701
- Surviving spouse: means the surviving wife or husband, as the case may be. See Iowa Code 633.3
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.