A. Unless otherwise provided in the contract, a conservator is not personally liable on a contract properly entered into in the conservator’s fiduciary capacity in the course of administration of the estate unless the conservator fails to reveal the representative capacity and identify the estate in the contract.

Terms Used In Arizona Laws 14-5429

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Conservator: means a person who is appointed by a court to manage the estate of a protected person. See Arizona Laws 14-1201
  • Contract: A legal written agreement that becomes binding when signed.
  • Estate: includes the property of the decedent, trust or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Arizona Laws 14-1201
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: includes a personal representative, guardian, conservator and trustee. See Arizona Laws 14-1201
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Proceeding: includes action at law and suit in equity. See Arizona Laws 14-1201
  • Property: includes both real and personal property. See Arizona Laws 1-215

B. The conservator is individually liable for obligations arising from ownership or control of property of the estate or for torts committed in the course of administration of the estate only if the conservator is personally at fault.

C. Claims based on contracts entered into by a conservator in a fiduciary capacity, on obligations arising from ownership or control of the estate, or on torts committed in the course of administration of the estate may be asserted against the estate by proceeding against the conservator in the conservator’s fiduciary capacity, whether or not the conservator is individually liable therefor.

D. Any question of liability between the estate and the conservator individually may be determined in a proceeding for accounting, surcharge or indemnification, or other appropriate proceeding or action.