Probate Code
Each state’s laws enumerate certain duties and limitations for guardians and conservators. These laws tend to be lengthy and detailed. For a comprehensive understanding of them, including relevant exceptions and requirements, the statutes themselves should be reviewed. Additionally, state laws must be read in conjunction with the order of appointment of a guardian or conservator by the judge which may further limit the guardian’s powers and responsibilities.
A guardian’s duties include, but are not limited to, the following:
- Except as otherwise limited by the court, a guardian shall make decisions regarding the ward’s support, care, education, health, and welfare. A guardian shall exercise authority only as necessitated by the ward’s limitations and, to the extent possible, shall encourage the ward to participate in decisions, act on the ward’s own behalf, and develop or regain the capacity to manage the ward’s personal affairs. A guardian, in making decisions, shall consider the expressed desires and personal values of the ward to the extent known to the guardian. A guardian, at all times, shall act in the ward’s best interest and exercise reasonable care, diligence, and prudence.
A guardian shall:
- Become or remain personally acquainted with the ward and maintain sufficient contact with the ward to know of the ward’s capacities, limitations, needs, opportunities, and physical and mental health;
- Take reasonable care of the ward’s personal effects and bring protective proceedings if necessary to protect the property of the ward;
- Expend money of the ward that has been received by the guardian for the ward’s current needs for support, care, education, health, and welfare;
- Conserve any excess money of the ward for the ward’s future needs, but if a conservator has been appointed for the estate of the ward, the guardian shall pay the money to the conservator, at least quarterly, to be conserved for the ward’s future needs;
- Immediately notify the court if the ward’s condition has changed so that the ward is capable of exercising rights previously removed;
- Inform the court of any change in the ward’s custodial dwelling or address; and
- Immediately notify the court in writing of the ward’s death.
Subject to limitations and except as otherwise limited by the court, a guardian may:
- Apply for and receive money payable to the ward or the ward’s guardian or custodian for the support of the ward under the terms of any statutory system of benefits or insurance or any private contract, devise, trust, conservatorship, or custodianship;
- If otherwise consistent with the terms of any order by a court of competent jurisdiction relating to custody of the ward, take custody of the ward and establish the ward’s place of custodial dwelling, but may only establish or move the ward’s place of dwelling outside this state upon express authorization of the court;
- If a conservator for the estate of the ward has not been appointed with existing authority, commence a proceeding, including an administrative proceeding, or take other appropriate action to compel a person to support the ward or to pay money for the benefit of the ward;
- Consent to medical or other care, treatment, or service for the ward; and
- If reasonable under all of the circumstances, delegate to the ward certain responsibilities for decisions affecting the ward’s well-being.
A conservator’s duties include the following:
- A conservator, implicit in the title acquired by virtue of the proceeding, is a fiduciary and shall observe the standards of care applicable to a trustee.
- A conservator shall take into account the limitations of the protected person, and to the extent possible, as directed by the order of appointment or the financial plan, encourage the person to participate in decisions, act in the person’s own behalf, and develop or regain the ability to manage the person’s estate and business affairs.
- Within a time set by the court, but no later than ninety days after appointment, a conservator shall file for approval with the appointing court a financial plan for protecting, managing, expending, and distributing the income and assets of the protected person’s estate. The financial plan shall be based upon a comparison of the projected income and expenses of the protected person and shall set forth a plan to address the needs of the person and how the assets and income of the protected person shall be managed to meet those needs. The financial plan must be based on the actual needs of the person and take into consideration the best interest of the person. The conservator shall include in the financial plan steps to the extent possible to develop or restore the person’s ability to manage the person’s property, an estimate of the duration of the conservatorship, and projections of expenses and resources.
- In investing an estate, selecting assets of the estate for distribution, and invoking powers of revocation or withdrawal available for the use and benefit of the protected person and exercisable by the conservator, a conservator shall take into account any estate plan of the person known to the conservator. The conservator may examine the will and any other donative, nominative, or other appointive instrument of the person.
- A conservator shall file an amended financial plan whenever there is a change in circumstances that requires a substantial deviation from the existing financial plan
Except as otherwise limited by the court, a conservator has the following powers and duties with respect to the protected person:
- Collect, hold and retain assets of the estate.
- Pay bills and other expenses of the protected person.
- Deposit money of the estate in banks and financial institutions.
- Acquire or dispose of assets for the benefit of the protected person.
- Continue or participate in the operation of any business.
- Invest assets of the protected person in a prudent manner.
- Pay taxes, assessments and other expenses of the estate.
- Pay for upkeep and repair of estate assets.
- Make, amend or revoke the protected person’s will (but only with prior court approval).
- Make gifts or release interests (but only with prior court approval).
Colo. Rev. Stat. § 15-14-314 through Colo. Rev. Stat. § 15-14-315
Colo. Rev. Stat. § 15-14-418