The bill amends the "Estates and Protected Individuals Code" by making significant changes to the requirements for conservators regarding the furnishing of bonds and the management of estate property. Specifically, it mandates that a court shall require a conservator to furnish a bond unless certain conditions are met, such as the estate containing no property readily convertible to cash or having cash in a restricted account for necessary expenses. Additionally, the bill clarifies that the bond must be conditioned upon the faithful discharge of the conservator's duties and outlines the circumstances under which a bond can be modified or canceled by the court.

Furthermore, the bill expands the powers of conservators, particularly in relation to the management and disposition of estate property. It allows conservators to engage in various activities without court authorization, such as collecting and holding estate property, investing estate assets, and entering into leases. However, it also imposes restrictions on the sale or disposal of a protected individual's principal dwelling or real property, requiring court approval for such actions. The bill emphasizes the need for conservators to act in the best interest of the protected individual and mandates that any significant property received must be reported to the court within a specified timeframe.

Statutes affected:
House Introduced Bill: 700.5410, 700.5423