Follow
Share
This question has been closed for answers. Ask a New Question.
Find Care & Housing
I believe they would have to get the courts approval and pay fair market value.
Helpful Answer (5)
Report

I think the circumstances would also be factored in.   Is the conservatee in a facility, with adequate finances, or on Medicaid?   Still, as ISRR states, the court would need to be involved unless there are provisions in the conservatorship documents specifically allowing this.
Helpful Answer (0)
Report

Yes to paying FMV.
Helpful Answer (0)
Report

As long as Fair Market Value is paid there should be no problems.
Make sure the sale is done legally and could withstand scrutiny. Should Medicaid look into the sale...if any other family member decided that this was not done properly if another lawyer looked into it make sure all your "i's" are dotted and "t's" crossed.
Helpful Answer (0)
Report

A conservator has much more control over what may and what may not be done. However, in many, perhaps in MOST states a court order is required for sale of real property. And there would absolutely have to be fair market value paid, with assets moved into the conservatee's accounts quite carefully. A conservator is legally liable, and any "self-enrichment" could be prosecuted under the law. This is a question that should be answered by a Trust and Estate Attorney in your own state, not by a forum.
Helpful Answer (2)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter