Arizona Laws 14-5418. Inventory and records
A. Within ninety days after appointment, a conservator shall prepare and file with the court an inventory of the assets of the protected person on the date of the conservator’s appointment, listing it with reasonable detail and indicating the fair market value of each asset as of the date of appointment. The conservator shall attach to the inventory a copy of the protected person‘s consumer credit report from a credit reporting agency that is dated within ninety days before the filing of the inventory.
Terms Used In Arizona Laws 14-5418
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Conservator: means a person who is appointed by a court to manage the estate of a protected person. See Arizona Laws 14-1201
- Court: means the superior court. See Arizona Laws 14-1201
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Interested person: includes any trustee, heir, devisee, child, spouse, creditor, beneficiary, person holding a power of appointment and other person who has a property right in or claim against a trust estate or the estate of a decedent, ward or protected person. See Arizona Laws 14-1201
- Parent: includes any person entitled to take, or who would be entitled to take if the child died without a will, as a parent under this title by intestate succession from the child whose relationship is in question and excludes any person who is only a stepparent, foster parent or grandparent. See Arizona Laws 14-1201
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Protected person: means a minor or any other person for whom a conservator has been appointed or any other protective order has been made. See Arizona Laws 14-5101
- Writing: includes printing. See Arizona Laws 1-215
B. The conservator shall provide a copy of the inventory to the protected person if the protected person can be located, has attained fourteen years of age, and has sufficient mental capacity to understand these matters, and to any parent or guardian with whom the protected person resides. The conservator shall keep suitable records of the conservator’s administration and exhibit the records on request of any interested person.
C. Unless otherwise ordered by the court, a person who is entitled to notice of the conservator’s annual account pursuant to section 14-5419, subsection C may request in writing that the conservator do one of the following not more than once every thirty days:
1. Allow the person to view the protected person’s financial records, the conservator’s billing statements, the billing statements of the conservator’s attorney or other records related to the protected person under the conservator’s control.
2. Provide the requesting person with copies of these documents. Unless otherwise ordered by the court, the conservator shall allow the person to view or provide copies of the requested documents to the person as soon as practicable but no later than thirty days after receiving the request. The requesting party must pay reasonable copying costs.
3. Provide a report of receipts and disbursements of the conservatorship.