14-5419

14-5419. Accounts; definition

A. Except as provided pursuant to subsection F of this section, every conservator
must account to the court for the administration of the estate not less than annually on
the anniversary date of qualifying as conservator and also on resignation or removal, and
on termination of the protected person's minority or disability, except that for good
cause shown on the application of an interested person, the court may relieve the
conservator of filing annual or other accounts by an order entered in the minutes.

B. The court may take any appropriate action on filing of annual or other
accounts. In connection with any account, the court may require a conservator to submit
to a physical check of the estate in the conservator's control, to be made in any manner
the court may specify.

C. An adjudication allowing an intermediate or final account can be made only on
petition, notice and a hearing. Notice must be given to:

1. The protected person.

2. A guardian of the protected person if one has been appointed, unless the same
person is serving as both guardian and conservator.

3. If no guardian has been appointed or the same person is serving as both guardian
and conservator, a spouse or, if the spouse is the conservator, there is no spouse or the
spouse is incapacitated, a parent or an adult child who is not serving as a conservator.

4. A representative appointed for the protected person, if the court determines in
accordance with section 14-1408 that representation of the interest of the protected
person would otherwise be inadequate.

D. An order, made on notice and a hearing, allowing an intermediate account of a
conservator, adjudicates as to the conservator's liabilities concerning the matters
considered in connection therewith. An order, made on notice and a hearing, allowing a
final account adjudicates as to all previously unsettled liabilities of the conservator
to the protected person or the protected person's successors relating to the
conservatorship.

E. In any case in which the estate consists, in whole or in part, of benefits paid
by the veterans administration to the conservator or the conservator's predecessor for
the benefit of the protected person, the veterans administration office that has
jurisdiction over the area is entitled to a copy of any account filed under chapter 5,
article 4 of this title. Each year in which an account is not filed with the court, the
conservator, if requested, shall submit an account to the appropriate veterans
administration office. If an account is not submitted as requested, or if it is found
unsatisfactory by the veterans administration, the court on receipt of notice of the
deficiency shall require the conservator to immediately file an account with the court
promptly.

F. Unless prohibited by order of the court, the conservator may file with the
court, in lieu of a final account, a verified statement stating that:

1. The protected person has died. The conservator shall attach a certified copy of
the protected person's death certificate to the statement.

2. The protected person's successors have all waived in writing their right to have
the conservator submit to the court a final account of the conservator's administration
of the protected person's estate. The conservator shall attach the originals of the
written waivers to the statement.

3. The conservator has delivered a copy of a closing statement to the protected
person's successors. The conservator shall attach a copy of the closing statement to the
statement.

G. The closing statement that is to be delivered to the protected person's
successors shall be a verified statement stating the following:

1. The protected person has died and the date of the person's death.

2. The persons receiving the closing statement have a right to have the conservator
submit to the court a final account of the conservator's administration of the protected
person's estate.

3. If the person wishes to have the final accounting reviewed by the court, the
person should not sign a waiver that waives this right.

4. If all persons receiving the closing statement choose to waive the right to have
the conservator submit to the court a final account, the final account will not be
reviewed by the court.

5. A list of the property owned by the protected person, as of the date of the
protected person's death, is attached to the closing statement and that the list states
the fair market value of the property as of the date of the protected person's death.

6. The conservator, by the closing statement, shall inform the protected person's
successors that if they waive court review of the conservator's final account, the
conservatorship will be terminated, the conservator will be discharged from all
liabilities relating to the conservatorship, the bond or other security posted by the
conservator will be exonerated and any restrictions previously imposed on the assets of
the conservatorship will be lifted.

H. The conservator shall file an affidavit with the court that states that the
closing statement was sent or delivered to the protected person's successors on a date
before the date that the protected person's successors signed the written waiver.

I. Unless proceedings are pending against the conservator, on the filing of the
statement described in subsection F of this section and the affidavit described in
subsection H of this section, the court shall enter an order terminating the
conservatorship, discharging the conservator from all liabilities relating to the
conservatorship, exonerating and releasing any bond or other security posted by the
conservator and releasing any restrictions previously imposed on the assets of the
conservatorship.

J. For the purposes of this section, "protected person's successors" means:

1. The personal representative of the protected person's estate if the personal
representative and the conservator are not the same person.

2. If the conservator and the personal representative of the protected person's
estate are the same person and if the protected person died intestate, the protected
person's heirs.

3. If the conservator and the personal representative of the protected person's
estate are the same person and if the protected person died testate, the devisees under
the protected person's will that has been admitted to probate.