54.76 Conservator; appointment; duties and powers; termination.

385 words·~2 min read·/wi/chapter-54/54-76

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Any adult resident who is unwilling or believes that he or she is unable properly to manage his or her assets or income may voluntarily apply to the circuit court of the county of his or her residence for appointment of a conservator of the estate. Upon receipt of the application, the court shall fix a time and place for hearing the application and may direct to whom, including presumptive heirs, and in what manner notice of the hearing shall be given to a potential recipient of the notice, unless the potential recipient has waived receipt. The fee prescribed in s. 814.66

(b)shall be paid at the time of the filing of the inventory or other documents setting forth the value of the assets and income.

(2)At the hearing for appointment of a conservator, the applicant shall be personally examined by the court and if the court is satisfied that the applicant desires a conservator and that the fiduciary nominated and any proposed standby conservator are suitable, the court may appoint the nominee as conservator and, if applicable, designate the proposed standby conservator as standby conservator and issue letters of conservatorship to the nominee after he or she files a bond in the amount fixed by the court.

(3)Except as provided in sub.

(3g), a conservator has all the powers and duties of a guardian of the estate. An individual whose income and assets are under conservatorship may make gifts of his or her income and assets, subject to approval of the conservator.

(3g)If the individual has executed a durable power of attorney before the proceedings under this section, the durable power of attorney remains in effect, except that the court may, only for good cause shown, revoke the durable power of attorney or limit the authority of the agent under the terms of the durable power of attorney. Unless the court makes this revocation or limitation, the individual’s conservator may not make decisions for the individual that may be made by the agent, unless the conservator is the agent.

(3m)A person may at any time bring a petition for the appointment of a standby conservator for an individual for whom a conservator has been appointed under sub.

(2).