Guardianships and conservatorships: accounting exemptions.

Plain English Breakdown

Checked against official source text during the last sync.

Guardianships and Conservatorships: Accounting Exemptions

This law changes when guardians or conservators do not have to file detailed reports about the money they manage for someone else.

What This Bill Does

• Changes the rules so that guardians or conservators can skip filing a report if the total value of what they are managing is less than $30,000.
• Allows skipping the report if the monthly income from managed assets is less than $3,200.
• Requires other conditions to still be met for this exemption.

Who It Names or Affects

• Guardians and conservators who manage money or property for someone else.
• Courts that decide on guardianship and conservatorship cases.

Terms To Know

guardian

A person appointed by the court to take care of another person's personal needs, like health and safety.

conservator

A person chosen by a court to manage someone else’s money or property.

Limits and Unknowns

• The bill does not specify when it will start.
• It only changes the rules for certain situations and does not affect all guardianship cases.

Official Summary Text

AB 2090, as introduced, Macedo.
Guardianships and conservatorships: accounting exemptions.
Existing law governs the establishment of conservatorships and guardianships. Existing law requires guardians and conservators to file inventories and accountings of estates with the court. Existing law authorizes the court to make an order that a guardian or conservator is exempt from making that accounting if certain conditions are satisfied, including, among others, that the estate at the beginning and end of the accounting period, exclusive of the residence of the ward or conservatee, consisted of a total net value of less than $15,000, and that the income of the estate for each month of the accounting period, exclusive of public benefits payments, was less than $2,000.
This bill would expand the authority of the court to make that exemption if the total net value of the estate, exclusive of the residence of the ward or conservatee, is less than $30,000, and if the monthly income of the estate, exclusive of public
benefit payments, is less than $3,200, subject to the other statutory conditions being met.

Current Bill Text

Download Bill PDF