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.
ANNOTATIONSThe 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.