11.130.515  <<  11.130.520 >>   11.130.525

Administrative powers of conservator not requiring court approval. (Effective January 1, 2022.)

(1) Except as otherwise provided in RCW 11.130.435 or qualified or limited in the court's order of appointment and stated in the letters of office, a conservator has all powers granted in this section and any additional power granted to a trustee by law of this state other than this chapter.
(2) A conservator, acting reasonably and consistent with the fiduciary duties of the conservator to accomplish the purpose of the conservatorship, without specific court authorization or confirmation, may with respect to the conservatorship estate:
(a) Collect, hold, and retain property, including property in which the conservator has a personal interest and real property in another state, until the conservator determines disposition of the property should be made;
(b) Receive additions to the conservatorship estate;
(c) Continue or participate in the operation of a business or other enterprise;
(d) Acquire an undivided interest in property in which the conservator, in a fiduciary capacity, holds an undivided interest;
(e) Invest assets;
(f) Deposit funds or other property in a financial institution, including one operated by the conservator;
(g) Enter into a lease or arrangement for exploration and removal of minerals or other natural resources or a pooling or unitization agreement;
(h) Grant an option involving disposition of property or accept or exercise an option for the acquisition of property;
(i) Vote a security, in person or by general or limited proxy;
(j) Pay a call, assessment, or other sum chargeable or accruing against or on account of a security;
(k) Sell or exercise a stock subscription or conversion right;
(l) Consent, directly or through a committee or agent, to the reorganization, consolidation, merger, dissolution, or liquidation of a corporation or other business enterprise;
(m) Hold a security in the name of a nominee or in other form without disclosure of the conservatorship so that title to the security may pass by delivery;
(n) Insure:
(i) The conservatorship estate, in whole or in part, against damage or loss in accordance with RCW 11.130.505(10); and
(ii) The conservator against liability with respect to a third person;
(o) Borrow funds, with or without security, to be repaid from the conservatorship estate or otherwise;
(p) Advance funds for the protection of the conservatorship estate or the individual subject to conservatorship and all expenses, losses, and liability sustained in the administration of the conservatorship estate or because of holding any property for which the conservator has a lien on the conservatorship estate;
(q) Pay or contest a claim, settle a claim by or against the conservatorship estate or the individual subject to conservatorship 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;
(r) Pay a tax, assessment, compensation of the conservator or any guardian, and other expense incurred in the collection, care, administration, and protection of the conservatorship estate;
(s) Pay a sum distributable to the individual subject to conservatorship or an individual who is in fact dependent on the individual subject to conservatorship by paying the sum to the distributee or for the use of the distributee:
(i) To the guardian for the distributee;
(ii) To the custodian of the distributee under the uniform transfers to minors act (chapter 11.114 RCW); or
(iii) If there is no guardian, custodian, or custodial trustee, to a relative or other person having physical custody of the distributee;
(t) Bring or defend 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; and
(u) Execute and deliver any instrument that will accomplish or facilitate the exercise of a power of the conservator.

NOTES:

Effective dates2020 c 312: See note following RCW 11.130.915.
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