387.700 Specific powers and duties of conservator.
296 words·~1 min read·
/ky/chapter-387/387-700A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A conservator has all of the powers conferred herein and any additional powers
conferred by law on trustees in this state. The conservator may take possession of
the ward's real and personal property, and of all rents, incomes, and benefits
therefrom, whether accruing before or after his appointment, and of the proceeds
arising from the sale, mortgage, lease or exchange thereof. Subject to such
possession the title of all such estate and to the increment and proceeds thereof shall
be to the ward and not to the conservator. It is the duty of the conservator to protect
and preserve the estate, to retain, sell and invest it as hereinafter provided, prosecute
or defend actions, claims or proceedings in any jurisdiction for the protection of the
estate's assets, to account for it faithfully, to perform all other duties required of him
by law, and, at the termination of the conservatorship, to deliver the assets of the
ward to the persons lawfully entitled thereto.
(2)The conservator shall apply the money and property for the payments of debts,
taxes, claims, charges and expenses of the conservatorship and for the support, care,
maintenance and education of the ward or his dependents.
(3)Any sale of realty of a ward shall be as provided in KRS Chapter 389A.
(4)Any lease of mineral rights, oil and gas rights, or sale of timber owned by a ward, or
consolidation agreement, as defined by KRS 353.220, to be made on behalf of a
ward by a conservator shall require the authorization and order of the District Court
of the county where the conservator has qualified. Such order may be given only
pursuant to written motion which contains the grounds for the motion and a
description of the lease or agreement involved.