Conservatorship Inventories and Accountings

June 30, 2022

Conservatorship Inventories and Accountings

inventories and accountings

Mark Rubin

Really? Really??? You want to tell us about conservatorship inventories and accountings. And you think anyone will read this piece?

Conservators for adult Protected Persons – different rules exist for certain minor conservatorships – must account for their actions. An accounting starts months beforehand, with an inventory. Arizona law requires inventories in all conservatorships. The Conservator must file certain forms with the court. The Conservator must identify assets “with reasonable detail and indicat[e] the fair market value of each asset as of the date of appointment.”

The relationship between the accounting and the inventory? Here’s a simple example: I am a Conservator. I am accounting from September 15, 2021 through May 31, 2022.

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Legal Terms

June 2, 2015

When I go to the doctor I wonder why medicine uses so many terms I don’t understand. Then, I look in the mirror, as many legal terms have no evident meaning for lay people. Herewith, some terms and their meanings.

Fiduciary is an adjective and a noun, used to describe a relationship a special trust. In certain circumstances the law establishes a fiduciary duty. For example, trustees owe to trust beneficiaries a fiduciary duty, attorneys have a fiduciary relationship with their clients, and partners owe to one another a fiduciary duty. Board members also owe to nonprofits a fiduciary duty. Translation? The terms of the duty vary, depending on the relationship, but they include duties of loyalty, care, and honesty.

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