Guardianships and conservatorships: accounting exemptions.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill changes the requirements for guardians and conservators to file accounting reports. Currently, estates with a net value under $15,000 and monthly income under $2,000 could be exempt. The bill raises these thresholds to $30,000 in total net value and $3,200 in monthly income, while still requiring that estate income be spent for the benefit of the ward or conservatee. This change aims to reduce the administrative burden on smaller estates managed under guardianship or conservatorship.
Key provisions
- Raises the estate net value threshold for exemption to $30,000.
- Raises the monthly estate income threshold for exemption to $3,200.
- Requires estate income to be spent for the benefit of the ward or conservatee.
- Allows the ward or conservatee or interested parties to petition for an account.
- The court can order an account even if the exemption conditions aren't met.
- Guards and conservators must file accounts if the exemption conditions aren't met.
Who is affected
- Guardians
- Conservators
- Wards
- Conservatees
- Probate Court
Notable changes
- Increases the financial thresholds for exemptions from $15,000 net value and $2,000 monthly income to $30,000 and $3,200, respectively.
Bill text
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Sponsors
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1 on record
Primary sponsor
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