The bill amends the "Estates and Protected Individuals Code" by making significant changes to the requirements for conservators. Specifically, it mandates that a court shall require a conservator to furnish a bond if the value of cash and property under their control exceeds a certain limit, with exceptions for estates containing no readily convertible cash or those with cash in a restricted account. The bill also clarifies that the bond must be conditioned upon the faithful discharge of the conservator's duties and outlines the circumstances under which a bond may be modified or canceled by the court.

Additionally, the bill expands the powers of conservators, allowing them to manage estate property more flexibly, including the ability to sell or dispose of real property only with court approval. It establishes that any proceeds from the sale of real property must be deposited into a specific financial account under the conservator's oversight. Furthermore, the bill requires conservators to petition the court for instructions within 14 days of receiving property valued at $25,000 or more that has not been previously disclosed, ensuring proper management and oversight of significant assets.

Statutes affected:
House Introduced Bill: 700.5410, 700.5423
As Passed by the House: 700.5410, 700.5423