The bill amends section 5423 of the Michigan Estates and Protected Individuals Code, which outlines the powers and responsibilities of conservators. It grants conservators extensive authority to manage the estate of an unmarried minor without parental rights, including the ability to collect and hold property, invest estate assets, and engage in various transactions related to the estate. The bill emphasizes that conservators must act reasonably and in the best interest of the protected individual, and it allows them to employ professionals for assistance in their duties.

Additionally, the bill introduces a requirement for court approval before a conservator can sell or dispose of a protected individual's principal dwelling or real property. This approval process mandates a hearing with notice to interested parties and requires an appraisal of the property's value conducted within the last six months. The court must determine that any sale or mortgage is in the best interest of the protected individual, and if the sale price is below the appraised value, the court must provide a rationale on the record. This amendment aims to enhance the protection of individuals under conservatorship by ensuring that significant decisions regarding their property are subject to judicial oversight.

Statutes affected:
Substitute (S-1): 700.5423
Senate Introduced Bill: 700.5423
As Passed by the Senate: 700.5423
As Passed by the House: 700.5423
Senate Enrolled Bill: 700.5423