Section 93-20-414 - Powers of conservator requiring court approval(1) Except as otherwise ordered by the court, a conservator must give notice to persons entitled to notice under Section 93-20-411(5) and receive specific authorization by the court before the conservator may exercise with respect to the conservatorship the power to: (b) Sell, encumber an interest in, or surrender a lease to the primary dwelling of the ward;(c) Convey, release, or disclaim a contingent or expectant interest in property, including marital property and any right of survivorship incident to joint tenancy or tenancy by the entireties;(d) Exercise or release a power of appointment;(e) Create a revocable or irrevocable trust of property of the conservatorship estate, whether or not the trust extends beyond the duration of the conservatorship, or revoke or amend a trust revocable by the ward;(f) Exercise a right to elect an option or change a beneficiary under an insurance policy or annuity or surrender the policy or annuity for its cash value;(g) Exercise a right to an elective share in the estate of a deceased spouse of the ward or renounce or disclaim a property interest;(h) Grant a creditor priority for payment over creditors of the same or higher class if the creditor is providing property or services used to meet the basic living and care needs of the ward and preferential treatment otherwise would be impermissible under Section 93-20-427(6);(i) Make, modify, amend, or revoke the will of the ward in compliance with Section 91-5-1 et seq.;(j) Pay premiums on any insurance policy issued on the life of the ward if the individual is a minor, the policy was issued during the lifetime of the individual's deceased parent, and the court finds the policy's continuance is warranted;(k) Acquire or dispose of real property, including real property in another state, for cash or on credit, at public or private sale, and manage, develop, improve, exchange, partition, change the character of, or abandon property;(l) Make repairs or alterations in a building or other structure, demolish any improvement, or raze an existing or erect a new wall or building if costs exceed Two Thousand Five Hundred Dollars ($2,500.00);(m) Subdivide or develop land, dedicate land to public use, make or obtain the vacation of a plat and adjust a boundary, adjust a difference in valuation of land, exchange or partition land by giving or receiving consideration, and dedicate an easement to public use without consideration;(n) Enter for any purpose into a lease of property as lessor or lessee, with or without an option to purchase or renew, for a term within or extending beyond the term of the conservatorship;(o) Enter into a lease or arrangement for exploration and removal of minerals or other natural resources or a pooling or unitization agreement;(p) Borrow funds, with or without security, to be repaid from the conservatorship estate or otherwise;(q) Pay or contest a claim, settle a claim by or against the conservatorship estate or the ward by compromise, arbitration, or otherwise, or release, in whole or in part, a claim belonging to the conservatorship estate to the extent the claim is uncollectible; or(r) Bring an action, claim, or proceeding in any jurisdiction for the protection of the conservatorship estate or the conservator in the performance of the conservator's duties;(2) In approving a conservator's exercise of a power listed in subsection (1), the court must consider the ward's prior or current directions, preferences, opinions, values, and actions, to the extent actually known or reasonably ascertainable by the conservator. The court also must consider:(a) The financial needs of the ward and individuals who are in fact dependent on the ward for support, and the interests of creditors of the individual;(b) Possible reduction of income, estate, inheritance, or other tax liabilities;(c) Eligibility for governmental assistance;(d) The previous pattern of giving or level of support provided by the individual;(e) Any existing estate plan or lack of estate plan of the individual;(f) The life expectancy of the individual and the probability the conservatorship will terminate before the ward's death; and(g) Any other relevant factor.(3) A conservator may not revoke or amend a power of attorney for finances executed by the ward. If a power of attorney for finances is in effect, a decision of the conservator takes precedence over that of the attorney-in-fact only to the extent of the authorization granted to the conservator by court order.Added by Laws, 2019, ch. 463, SB 2828,§ 1, eff. 1/1/2020.