In the exercise of a conservator's powers, a conservator shall act as a fiduciary and shall observe the standards of care applicable to trustees as described by Sections 46A-8-801 through 46A-8-807 NMSA 1978.
History: 1953 Comp., § 32A-5-417, enacted by Laws 1975, ch. 257, § 5-417; 2011, ch. 124, § 58.
The 2011 amendment, effective January 1, 2012, changed the statutory reference to Sections 46A-8-801 through 46A-8-807 NMSA 1978.
Conservator may facilitate execution of will. — Although a conservator must avoid conflicts of interest and must act as a trustee of property, it does not follow that because the conservator is appointed by the district court the conservator is an officer of the court, or that by arranging for the execution of a new will the conservator breached his fiduciary duties. Lucero v. Lucero, 1994-NMCA-128, 118 N.M. 636, 884 P.2d 527.
Conservator may not file bankruptcy petition for missing debtor. — A conservator may not file a voluntary petition for bankruptcy on behalf of a debtor who is missing and whose whereabouts are unknown. In re King, 234 B.R. 515 (Bankr. D.N.M. 1999).
Am. Jur. 2d, A.L.R. and C.J.S. references. — Care required of trustee or guardian with respect to retaining securities coming into his hands as assets of the estate, 112 A.L.R. 355.
Right of guardian or committee of incompetent to incur obligations so as to bind incompetent or his estate, or to make expenditures, without prior approval by court, 63 A.L.R.3d 780.
Validity of inter vivos gift by ward to guardian or conservator, 70 A.L.R.4th 499.
14 C.J.S. Chemical Dependents § 4; 39 C.J.S. Guardian and Ward § 69; 49 C.J.S. Insane Persons § 49.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 5 - Protection of Persons Under Disability and Their Property
Part 4 - PROTECTION OF PROPERTY OF PERSONS UNDER DISABILITY AND MINORS
Section 45-5-401 - Conservatorship proceedings.
Section 45-5-402 - Protective proceedings; jurisdiction of affairs of protected persons.
Section 45-5-402.1 - Permissible court orders.
Section 45-5-404 - Original petition for appointment of conservator.
Section 45-5-404.1 - Duties of guardian ad litem.
Section 45-5-405 - Notice in conservatorship proceedings.
Section 45-5-405.1 - Protective arrangements and single transactions authorized.
Section 45-5-406 - Guardianship and protective proceedings; request for notice; interested person.
Section 45-5-407 - Procedure for court appointment of a conservator.
Section 45-5-408 - Temporary conservators.
Section 45-5-409 - Annual report and account; audits.
Section 45-5-409.1 - Repealed.
Section 45-5-410 - Who may be appointed conservator; priorities.
Section 45-5-411 - Bond and terms; requirements of bonds.
Section 45-5-413 - Acceptance of appointment; consent to jurisdiction.
Section 45-5-414 - Compensation and expenses.
Section 45-5-415 - Death, substitution, review and termination of conservatorship.
Section 45-5-416 - Petitions for orders subsequent to appointment.
Section 45-5-417 - General duty of conservator.
Section 45-5-418 - Inventory and records.
Section 45-5-420 - Conservators; title by appointment.
Section 45-5-421 - Recording of conservator's letters.
Section 45-5-421.1 - Letters of conservatorship.
Section 45-5-423 - Persons dealing with conservators; protection.
Section 45-5-424 - Powers of conservator in administration.
Section 45-5-425 - Distributive duties and powers of conservator.
Section 45-5-426 - Consent to conservatorship; applicable laws.
Section 45-5-427 - Preservation of estate plan.
Section 45-5-428 - Claims against protected person; enforcement.
Section 45-5-429 - Individual liability of conservator.
Section 45-5-430 - Termination of proceeding.
Section 45-5-434 - Registration of guardianship orders.