A person who is unable to manage property and business affairs because of….

• mental illness
• mental deficiency
• physical illness
• infirmities accompanying advanced age
• chronic use of drugs
• chronic intoxication
• confinement
• detention by foreign power
• disappearance

1. invest and reinvest funds
2. retain assets
3. receive additions
4. acquire undivided interest
5. deposit funds in financial institutions
6. acquire property
7. dispose of personal property
8. make repairs to building
9. enter leases up to 5 years
10. enter mineral leases
11. grant options up to one year
12. vote securities
13. pay assessments
14. sell or exercise stock options
15. deposit stock and bonds
16. consent to reorganization, merger of a business
17. insure assets
18. borrow to protect estate
19. settle claims
20. pay reasonable annual compensation to conservator
21. pay taxes and expenses
22. allocate expenses to income
23. pay sum of benefit of protected person or his family
24. employ attorneys, auditors
25. prosecute or defend claims
26. execute and deliver appropriate instruments
27. hold securities

[court may limit powers of conservator]

With prior court authorization the conservator may:

1. continue or participate in operating business
2. demolish improvements
3. dispose of real estate
4. subdivide, dedicate land
5. leases greater than 5 years
6. grant an option more than one year
7. take an option to acquire property

1. petition filed
2. appointment of a guardian ad litem
3. examination by physician
4. appointment of court’s representative
5. hearing
6. jury at hearing if demanded
7. bond for conservator
8. order granting petition
9. Inventory of property for conservator
10. letters of guardianship and/or conservatorship

Each conservator must complete an inventory of the estate immediately and file it with the court within 90 days after appointment.

Any qualified person may be appointed. However, the law establishes the following priorities:

• person named in a durable power of attorney
• spouse or spouse’s nominee
• adult child
• parent of parent’s nominee
• relative with whom person has lived the prior 6 months
• ominee of caretaker of person

The court may appoint any person who will be in the best interest of the minor. However, if the minor is 14 years old or older, the minor’s nominee must be appointed unless the appointment is contrary to the minor’s best interest.

Also, a parental nomination has priority.

Yes, in a Will a parent may appoint a guardian for a minor child or for an unmarried incapacitated child.