Legal Question in Wills and Trusts in Michigan
When does conservatorship end?
I'm writing on behalf of my sister-in-law. She became guardian and conservator of her mother about 15 months ago. (in Wayne County). The Court suggested to her in June 2002 that perhaps she should move mom's money from the checking account (names on account were mom and all three children) to something that would earn more interest.
Sister-in-law opened CD at the same bank as the joint checking account. She tried to get mom & all 3 kids named on CD, but bank would only allow mom and her name with (conservator) written after sister-in-law. Mom passed away last week, now bank has frozen the CD, saying that conservatorship ends with the death of the ward.
The Probate Court says that conservatorship ends when Probate Court discharges sister-in-law, after the accounting of finances. My sister-in-law's in a bind...she can't pay the funeral expenses without getting into the CD, the bank froze the CD, and she can't satisfy the Probate Court until all debts are settled.
2 Answers from Attorneys
Re: When does conservatorship end?
Hello, I have received a copy of your e-mail regarding your sister-in-law and her mother's estate. The conservatorship does end with the death of the ward. However, the Conservator does have to make a final accounting. Now she needs to open a decedant's estate, transfer the funds from the conservatorship to the decedant's estate, pay the bills, and distribute the balance. Probate matters are one of this firm's areas of concentration. Feel free to have her contact my associate, Karen Crusse, or myself if she wishes an appointment. John C. Talpos (http://www.Mich-Lawyer.com) (248) 743-6800
Re: When does conservatorship end?
She must now open a decedent's estate for her mother. The CD will then be transferred to the decedent's estate where she can cash it in, pay debts, and distribute the balance to the heirs. The conservatorship will end once she files her final accounting and a "receipt of assets" from the decedent's estate.
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