The bill amends section 5423 of the Estates and Protected Individuals Code, enhancing the powers and responsibilities of conservators, particularly for the estates of unmarried minors without parental rights. It specifies that a conservator has the same powers as trustees in Michigan and outlines a range of actions they can undertake without court authorization, such as managing estate property, investing, and entering into leases. Additionally, the bill clarifies that a conservator must act reasonably to fulfill their duties and can employ professionals for assistance, with the stipulation that attorneys must receive reasonable compensation for their services.

Furthermore, 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. The court's approval will be contingent upon a hearing and the consideration of an appraisal conducted within the last six months by a licensed professional, ensuring that any transaction is in the best interest of the protected individual. This amendment aims to provide additional safeguards for the assets of vulnerable individuals under conservatorship.

Statutes affected:
Senate Introduced Bill: 700.5423