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2022 Utah Code
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
Section 417 - General duty of conservator.
Universal Citation: UT Code § 75-5-417 (2022)
Effective 5/4/2022
75-5-417. General duty of conservator.
Amended by Chapter 358, 2022 General Session
75-5-417. General duty of conservator.
- (1) A conservator shall act as a fiduciary and shall observe the standards of care as set forth in Section 75-7-902.
- (2)
- (a) For all estates in excess of $50,000 excluding the residence owned by the ward, the conservator shall send a report with a full accounting to the court on an annual basis.
- (b) 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.
- (c) A report under Subsection (2)(a) or (b) shall include a statement regarding:
- (i) all assets at the beginning and end of the reporting year;
- (ii) any income received during the year;
- (iii) any disbursements for the support of the ward;
- (iv) any investments or trusts that are held for the ward's benefit;
- (v) any expenditures or fees charged to the ward's estate; and
- (vi) any other expenses incurred by the ward's estate.
- (d) The Judicial Council shall approve the forms for the accounting reports described in Subsections (2)(a) and (b).
- (e) An annual accounting report under Subsection (2)(a) or (b) shall be examined and approved by the court.
- (3)
- (a) Corporate fiduciaries are not required to fully petition the court, but shall submit their internal report annually to the court.
- (b) A report under Subsection (3)(a) shall be examined and approved by the court.
- (4) Upon a motion and after a hearing, the court may alter the frequency of, or the information included in, an accounting report provided to a ward in accordance with Subsection 75-5-301.5(2)(t).
- (5)
- (a) The court may impose a fine in an amount not to exceed $5,000, if, after receiving written notice of the failure to file and after a grace period of two months have elapsed, a conservator or corporate fiduciary:
- (i) makes a substantial misstatement on filings of any required annual reports;
- (ii) is guilty of gross impropriety in handling the property of the ward; or
- (iii) willfully fails to file the report required by this section.
- (b) The court may also order restitution of funds misappropriated from the estate of a ward.
- (c) The penalty shall be paid by the conservator or corporate fiduciary and may not be paid by the estate.
- (a) The court may impose a fine in an amount not to exceed $5,000, if, after receiving written notice of the failure to file and after a grace period of two months have elapsed, a conservator or corporate fiduciary:
- (6) These provisions and penalties governing annual reports do not apply if the conservator is the parent of the ward.
Amended by Chapter 358, 2022 General Session
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