UTAH CODE (Last Updated: January 16, 2015) |
Title 75. Utah Uniform Probate Code |
Chapter 5. Protection of Persons Under Disability and Their Property |
Part 4. Protection of Property of Persons Under Disability and Minors |
§ 75-5-417. General duty of conservator.
Latest version.
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(1) A conservator shall act as a fiduciary and shall observe the standards of care as set forth in Section 75-7-902. (2) The conservator shall, for all estates in excess of $50,000, excluding the residence owned by the ward, send a report with a full accounting to the court on an annual basis. For estates less than $50,000, excluding the residence owned by the ward, the conservator shall fill out an informal annual report and mail the report to the court. The report shall include the following: a statement of assets at the beginning and end of the reporting year, income received during the year, disbursements for the support of the ward, and other expenses incurred by the estate. The court may require additional information. The forms for both the informal report for estates under $50,000, excluding the residence owned by the ward, and the full accounting report for larger estates shall be approved by the judicial council. This annual report shall be examined and approved by the court. (3) Corporate fiduciaries are not required to fully petition the court, but shall submit their internal report annually to the court. The report shall be examined and approved by the court. (5) These provisions and penalties governing annual reports do not apply if the conservator is the parent of the ward.
Amended by Chapter 89, 2004 General Session