Sec. 5408.
(1) If it is established in a proper proceeding that a basis exists as described in section 5401 for affecting an individual's property and business affairs, the court, without appointing a conservator, may authorize, direct, or ratify a transaction necessary or desirable to achieve a security, service, or care arrangement meeting the protected individual's foreseeable needs. Protective arrangements include, but are not limited to, payment, delivery, deposit, or retention of money or property; sale, mortgage, lease, or other transfer of property; entry into an annuity contract, contract for life care, deposit contract, or contract for training and education; or an addition to or establishment of a suitable trust.
(2) If it is established in a proper proceeding that a basis exists as described in section 540l for affecting an individual's property and business affairs, the court, without appointing a conservator, may authorize, direct, or ratify a contract, trust, or other transaction relating to the protected individual's property and business affairs if the court determines that the transaction is in the protected individual's best interests.
(3) Before approving a protective arrangement or other transaction under this section, the court shall consider the interests of the protected individual's creditors and dependents and, in view of the disability, whether the protected individual needs the continuing protection of a conservator. The court may appoint a special conservator to assist in the accomplishment of a protective arrangement or other transaction authorized under this section. The special conservator has the authority conferred by the order and serves until discharged by order after reporting to the court on all matters done under the appointment order.
History: 1998, Act 386, Eff. Apr. 1, 2000 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Section 700.5401 - Protective Proceedings.
Section 700.5402 - Protective Proceedings; Jurisdiction.
Section 700.5404 - Original Petition for Appointment or Protective Order.
Section 700.5406 - Procedure Concerning Hearing and Order on Original Petition.
Section 700.5407 - Permissible Court Orders.
Section 700.5408 - Protective Arrangements and Single Transactions Authorized.
Section 700.5409 - Appointment of Conservator.
Section 700.5411 - Terms and Requirements of Bonds.
Section 700.5413 - Compensation and Expenses.
Section 700.5414 - Death, Resignation, or Removal of Conservator.
Section 700.5415 - Petitions for Orders Subsequent to Appointment.
Section 700.5416 - General Duty of Conservator.
Section 700.5417 - Inventory and Records.
Section 700.5419 - Conservators; Title by Appointment.
Section 700.5420 - Recording of Conservator's Letters.
Section 700.5422 - Persons Dealing With Conservators; Protection.
Section 700.5423 - Powers of Conservator in Administration.
Section 700.5424 - Powers Regarding Environmental Matters.
Section 700.5425 - Distributive Duties and Powers of Conservator.
Section 700.5427 - Expansion or Limitation of Powers of Conservator.
Section 700.5428 - Preservation of Estate Plan; Right to Examine.
Section 700.5429 - Claims Against Protected Individual; Enforcement.
Section 700.5430 - Personal Liability of Conservator.
Section 700.5431 - Termination of Proceeding.
Section 700.5433 - Appointment of Conservator in Another State as Temporary Conservator.