Iowa Code 633.670 – Reports by conservators
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1. A conservator shall file an initial plan for protecting, managing, investing, expending, and distributing the assets of the conservatorship estate within ninety days after appointment. The plan must be based on the needs of the protected person and take into account the best interest of the protected person as well as the protected person’s preference, values, and prior directions to the extent known to, or reasonably ascertainable by, the conservator.
a. The initial plan shall include all of the following:
(1) A budget containing projected expenses and resources, including an estimate of the total amount of fees the conservator anticipates charging per year and a statement or list of the amount the conservator proposes to charge for each service the conservator anticipates providing to the protected person.
(2) A statement as to how the conservator will involve the protected person in decisions about management of the conservatorship estate.
(3) If ordered by the court, any step the conservator plans to take to develop or restore the ability of the protected person to manage the conservatorship estate.
(4) An estimate of the duration of the conservatorship.
b. Within two days after filing the initial plan, the conservator shall give notice of the filing of the initial plan with a copy of the plan to the protected person, the protected person’s attorney and court visitor, if any, and others as directed by the court. The notice must state that any person entitled to a copy of the plan must file any objections to the plan not later than fifteen days after it is filed.
c. At least twenty days after the plan has been filed, the court shall review and determine whether the plan should be approved or revised, after considering objections filed and whether the plan is consistent with the conservator’s powers and duties.
d. After approval by the court, the conservator shall provide a copy of the approved plan and order approving the plan to the protected person, the protected person’s attorney and court visitor, if any, and others as directed by the court.
e. The conservator shall file an amended plan when there has been a significant change in circumstances or the conservator seeks to deviate significantly from the plan. Before the amended plan is implemented, the provisions for court approval of the plan shall be followed as provided in paragraphs “b”, “c”, and “d”.
Terms Used In Iowa Code 633.670
- 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
- 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
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- 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
- Probate: Proving a will
- 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
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Iowa Code 633.701
- year: means twelve consecutive months. See Iowa Code 4.1
2. A conservator shall file an inventory of the protected person’s assets within ninety days after appointment which includes an oath or affirmation that the inventory is believed to be complete and accurate as far as information permits. Copies of the inventory shall be provided to the protected person, the protected person’s attorney and court visitor, if any, and others as directed by the court. When the conservator receives additional property of the protected person, or becomes aware of its existence, a description of the property shall be included in the conservator’s next annual report.
3. A conservator shall file a written and verified report for the period since the end of the preceding report period. The court shall not waive these reports.
a. These reports shall include all of the following:
(1) Balance of funds on hand at the beginning and end of the period.
(2) Disbursements made.
(3) Changes in the conservator’s plan.
(4) List of assets as of the end of the period.
(5) Bond amount and surety’s name.
(6) Residence and physical location of the protected person.
(7) General physical and mental condition of the protected person.
(8) Other information reflecting the condition of the conservatorship estate.
b. These reports shall be filed:
(1) On an annual basis within sixty days of the end of the reporting period unless the court orders an extension for good cause shown in accordance with the rules of probate procedure.
(2) Within thirty days following removal of the conservator.
(3) Upon the conservator’s filing of a resignation and before the resignation is accepted by the court.
(4) Within sixty days following the termination of the conservatorship.
(5) At other times as ordered by the court.
c. Reports required by this section shall be served on the protected person’s attorney and court visitor, if any, and the veterans administration if the protected person is receiving veterans benefits.