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The first time a court must make a decision about conservatorship, a court may presume that both parents should be Joint Managing Conservators. When joint managing conservatorship is awarded, the parties or the judge must decide on how to divide the rights and duties, which is written into the decree. [10] [11]
The guardianship for adults can take two legal forms, "conservator" or "administrator". The main difference between these two is that an "administrator" has the sole permission to take legal actions within the field of the guardianship. A guardianship can have different legal forms for different parts of the guardianship.
The petition sought only a conservatorship of Wilson's person, saying he doesn't need a conservator over his finances because his assets are in a trust, with manager Hard as a trustee.
Under U.S. law, a conservatorship results from the appointment of a guardian or a protector by a judge to manage the personal or financial affairs of another person who is incapable of fully managing their own affairs due to age or physical or mental limitations. A person under conservatorship is a "conservatee", a term that can refer to an adult.
The state of Texas in the United States sets out the duties of a fiduciary in its Estates Code, chapter 751, as follows (the bracketed references to TPC refer to the Texas Probate Code superseded by the Estates Code, effective January 1, 2014): Sec. 751.101. Fiduciary Duties. [TPC §489B(a)]
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