What is a substitute decision maker?
There are different types of substitute decision makers including:
Guardians
Conservators
Power of Attorneys
Trustees
Representative Payees

What is a conservatorship?
One form of substitute decision-making which is established through a legal proceeding. A conservatorship is established to manage an individual’s financial affairs.

Difference between a voluntary and involuntary conservatorship?
A voluntary conservatorship is a legal proceeding that occurs when the proposed ward files a petition to establish the conservatorship. Iowa Code 633.557

An involuntary conservatorship is a legal proceeding in which someone other than the proposed ward files a petition to establish a conservatorship.

Why is a legal proceeding necessary?
A legal proceeding determines by clear and convincing evidence that an individual does not have the decision-making capacity to care for themselves financially. In other word, they are adjudicated incompetent.

What does incompetent mean?
In Iowa, an individual is considered incompetent if he meets at least one of the following criteria:

a) Decision-making capacity which is so impaired that the individual is unable to care for their own personal safetyor to attend to or to provide for necessities for themselves such as food, shelter, clothing or medical care, without which physical injury or illness will occur.

b) Decision-making capacity so impaired that the individual is unable to make, communicate or carry out important decisions concerning their own financial affairs.

c) Decision-making capacity is so impaired that both "a" and "b" are applicable to the individual.

What kind of conservatorships can be established by the court?

Stand-by Conservatorship IC §633.591 & §633.591A

A stand-by conservatorship is only effective if a certain event occurs.

Temporary Conservatorship IC §633.573

A temporary conservatorship is limited to a specific period of time.

Conservators for Absentees IC §633.580

When a person owns property in Iowa and his whereabouts are unknown, and no provision of care, control and supervision of such property has been made, with the result that the property is likely to be destroyed or damaged, it shall be proper for any person to file a petition for appointment of a conservator of the property of the absentee.

What qualifications must an individual have to be a conservator?
Any natural person of full age who is a resident of Iowa except those mentally incompetent or those the court determines unsuitable.

A natural person who is a nonresident if a resident is also appointed. However, for good cause shown,the court may appoint a nonresident to serve alone.

Banks and trust companies if otherwise authorized to act in a fiduciary capacity.

Private nonprofit corporations organized under IC Chapters 504 or 504A. IC §633.63-.64

What are the responsibilities of the conservator?
Duties of Conservator IC §633.641
It is the duty of the conservator of the estate to protect and preserve it, to invest it prudently, to account for it as herein provided and to perform all other duties required of the conservator by law and at the termination of the conservatorship to deliver the assets of the ward to the person entitled thereto.

Powers of the Conservator
The conservator shall have the following powers without prior approval of the court: IC §633.646

Collect, receive, receipt for any principal or income, and to enforce, defend against or prosecute any claim against the ward or conservator; to sue on or defend claims in favor of, or against, the ward or conservator.

To sell, transfer personal property of a perishable nature and personal property for which there is a regularly established market.

To vote at corporate meetings in person or by proxy.

To receive additional property from any source.

Continue to hold any investment or other property originally received by the conservator.

The conservator can exercise the following powers with court approval: IC §633.647

Invest the funds belonging to the ward.

Execute leases.

Make payments to, and for the benefit or, the ward in any of the following ways:

Directly to the ward.

Directly for the maintenance, welfare and education of the ward.

To the legal guardian of the person of the ward.

To anyone who at the time shall have the custody and care of the person of the ward.

To apply in portion of the income or of the estate of the ward for the support of any person for whose support the ward is legally liable.

To compromise or settle any claim by, or against, the ward or the conservator; to adjust, arbitrate or compromise claims in favor or against the ward or conservator.

To make an election for the ward who is a surviving spouse.

To do any other thing the court determines to be in the best interests of the ward and the ward’s estate.