A conservator is someone the court puts in charge of managing another person's money and property. If a conservator makes a deal that benefits themselves personally — or where their own interests clash with their duty to the person they're supposed to protect — that deal can be canceled. There are a few exceptions: if the court approved it, if the deal started before they became conservator, if it involves depositing money into a bank the conservator runs, or if the conservator used their own money to protect the estate. A public administrator serving as conservator is not allowed to make any deals for their own personal gain at all.
475.341. s, . — 1. Except when a is serving as , a sale, , or other transaction involving the management of the entered into by the conservator for the conservator's own personal or which is otherwise affected by a conflict between the conservator's and personal interests is voidable unless the transaction:
(1) Was approved by the court;
(2) Involves a contract entered into or acquired by the conservator before the person became or contemplated becoming conservator;
(3) Involves a of moneys to a bank operated by the conservator; or
(4) Involves an advance by the conservator of moneys for the protection of the estate.
2. When a public administrator is serving as conservator, the public administrator shall not enter into a transaction for his or her own personal gain.
Tap any gold-underlined word to see what it means.
Source & history notes
(L. 2018 S.B. 806)
Related Missouri laws
Estate property, conservator's duties
RSMo 475.342
Mortgage or sale of real estate of ward by nonresident conservator
RSMo 475.340
Nonresident domiciliary guardian or conservator
RSMo 475.339
Personal financial resources, guardian not obligated to use
RSMo 475.343
Service on foreign guardian or conservator
RSMo 475.338
Jurisdiction by act of foreign guardian or conservator
RSMo 475.337
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.