Michigan Compiled Laws 386-1998-v-4 Part 4 Protection Of Property Of An Individual Under Disability Or Of A Minor (700.5401...700.5433)

• Section 700.5401 Protective Proceedings.
  (1) Upon petition and after notice and hearing in accordance with this part, the court may appoint a conservator or make another protective order...
• Section 700.5402 Protective Proceedings; Jurisdiction.
  After the service of notice in a proceeding seeking a conservator's appointment or other protective order and until the proceeding's termination, the court in...
• Section 700.5403 Venue.
  Venue for a proceeding under this part is as follows: (a) In the court at the place in this state where the individual to...
• Section 700.5404 Original Petition For Appointment Or Protective Order.
  (1) The individual to be protected, a person who is interested in the individual's estate, affairs, or welfare, including a parent, guardian, or custodian,...
• Section 700.5405 Notice.
  (1) On a petition for a conservator's appointment or another protective order, the requirements for notice described in section 5311 apply, subject to the...
• Section 700.5406 Procedure Concerning Hearing And Order On Original Petition.
  (1) Upon receipt of a petition for a conservator's appointment or another protective order because of minority, the court shall set a date for...
• Section 700.5407 Permissible Court Orders.
  (1) The court shall exercise the authority conferred in this part to encourage the development of maximum self-reliance and independence of a protected individual...
• Section 700.5408 Protective Arrangements And Single Transactions Authorized.
  (1) If it is established in a proper proceeding that a basis exists as described in section 5401 for affecting an individual's property and...
• Section 700.5409 Appointment Of Conservator.
  (1) The court may appoint an individual, a corporation authorized to exercise fiduciary powers, or a professional conservator described in section 5106 to serve...
• Section 700.5410 Bond.
  (1) The court may require a conservator to furnish a bond. If the court determines that the value of cash and property that is...
• Section 700.5411 Terms And Requirements Of Bonds.
  (1) The following requirements and provisions apply to a bond required under section 5410: (a) Unless otherwise provided by the terms of the approved...
• Section 700.5412 Qualification; Limitation And Procedure With Regard To Specified Assets; Consent To Jurisdiction.
  (1) Before receiving letters, a conservator must qualify by filing with the appointing court a required bond and a statement of acceptance of the...
• Section 700.5413 Compensation And Expenses.
  If not otherwise compensated for services rendered, a visitor, guardian ad litem, attorney, physician, conservator, or special conservator appointed in a protective proceeding, is...
• Section 700.5414 Death, Resignation, Or Removal Of Conservator.
  The court may remove a conservator for good cause, upon notice and hearing, or accept a conservator's resignation. Upon the conservator's death, resignation, or...
• Section 700.5415 Petitions For Orders Subsequent To Appointment.
  (1) A person interested in the welfare of an individual for whom a conservator is appointed may file a petition in the appointing court...
• Section 700.5416 General Duty Of Conservator.
  In relation to powers conferred by this part or implicit in the title acquired by virtue of the proceeding, a conservator shall act as...
• Section 700.5417 Inventory And Records.
  (1) Within 56 days after appointment or within another time period specified by court rule, a conservator shall prepare and file with the appointing...
• Section 700.5418 Accounts.
  (1) A conservator shall account to the court for administration of the trust not less than annually unless the court directs otherwise, upon resignation...
• Section 700.5419 Conservators; Title By Appointment.
  (1) Appointment of a conservator vests in the conservator title as trustee to all of the protected individual's property, or to the part of...
• Section 700.5420 Recording Of Conservator's Letters.
  (1) Letters of conservatorship are evidence of transfer of all of the protected individual's property, or the part of that property specified in the...
• Section 700.5421 Sale, Encumbrance, Or Transaction Involving Conflict Of Interest; Voidable; Presumption; Compliance With Michigan Prudent Investor Rule; Exceptions.
  (1) A sale, encumbrance, or other transaction involving the investment or management of estate property in which the conservator has a substantial beneficial interest...
• Section 700.5422 Persons Dealing With Conservators; Protection.
  (1) A person who in good faith either assists or deals with a conservator for value in a transaction, other than a transaction that...
• Section 700.5423 Powers Of Conservator In Administration.
  (1) Subject to a limitation imposed under section 5427, a conservator has all of the powers conferred in this section and the additional powers...
• Section 700.5424 Powers Regarding Environmental Matters.
  (1) To respond to an environmental concern or hazard affecting property, the conservator may do any of the following: (a) Inspect property and the...
• Section 700.5425 Distributive Duties And Powers Of Conservator.
  A conservator may expend or distribute estate income or principal without court authorization or confirmation for the support, education, care, or benefit of the...
• Section 700.5426 Gifts; Distribution To Formerly Protected Individual; Death Of Protected Individual.
  (1) If the estate is more than sufficient to provide for the purposes implicit in the distributions authorized by section 5425, a conservator for...
• Section 700.5427 Expansion Or Limitation Of Powers Of Conservator.
  Subject to the restrictions in section 5407(3), at the time of appointment or later, the court may confer on a conservator, in addition to...
• Section 700.5428 Preservation Of Estate Plan; Right To Examine.
  (1) When doing any of the following, the conservator and the court shall take into account the protected individual's estate plan as known to...
• Section 700.5429 Claims Against Protected Individual; Enforcement.
  (1) A conservator may pay or secure from the estate a claim against the estate or against the protected individual arising before or during...
• Section 700.5430 Personal Liability Of Conservator.
  (1) Unless otherwise provided in the contract, a conservator is not individually liable on a contract properly entered into in a fiduciary capacity in...
• Section 700.5431 Termination Of Proceeding.
  The protected individual, conservator, or another interested person may petition the court to terminate the conservatorship. A protected individual seeking termination is entitled to...
• Section 700.5432 Payment Of Debt And Delivery Of Property To Foreign Conservator Without Local Proceedings.
  (1) A person indebted to a protected individual or having possession of property or of an instrument evidencing a debt, stock, or chose in...
• Section 700.5433 Appointment Of Conservator In Another State As Temporary Conservator.
  (1) If a conservator has not been appointed in this state and a petition in a protective proceeding is not pending in this state,...

Last modified: October 10, 2016