                                 CODE OF VIRGINIA

GENERAL DUTIES AND LIABILITIES OF CONSERVATOR (§ 64.2-2021)

A. At all times the conservator shall exercise reasonable care, diligence, and
prudence and shall act in the best interest of the incapacitated person. To the
extent known to him, a conservator shall consider the expressed desires and
personal values of the incapacitated person.

B. Subject to any conditions or limitations set forth in the conservatorship
order, the conservator shall take care of and preserve the estate of the
incapacitated person and manage it to the best advantage. The conservator shall
apply the income from the estate, or so much as may be necessary, to the payment
of the debts of the incapacitated person, including payment of reasonable
compensation to himself and to any guardian appointed, and to the maintenance of
the person and of his legal dependents, if any, and, to the extent that the
income is not sufficient, he shall so apply the corpus of the estate.

C. A conservator shall, to the extent feasible, encourage the incapacitated
person to participate in decisions, to act on his own behalf, and to develop or
regain the capacity to manage the estate and his financial affairs. A
conservator also shall consider the size of the estate, the probable duration of
the conservatorship, the incapacitated person&#8217;s accustomed manner of
living, other resources known to the conservator to be available, and the
recommendations of the guardian.

D. A conservator stands in a fiduciary relationship to the incapacitated person
for whom he was appointed conservator and may be held personally liable for a
breach of any fiduciary duty. Unless otherwise provided in the contract, a
conservator is personally liable on a contract entered into in a fiduciary
capacity in the course of administration of the estate, unless he reveals the
representative capacity and identifies the estate in the contract. Claims based
upon contracts entered into by a conservator in a fiduciary capacity,
obligations arising from ownership or control of the estate, or torts committed
in the course of administration of the estate may be asserted against the estate
by proceeding against the conservator in a fiduciary capacity, whether or not
the conservator is personally liable therefor. A successor conservator is not
personally liable for the contracts or actions of a predecessor.

E. A conservator shall comply with and be subject to the requirements imposed
upon fiduciaries generally under Part A (&#xA7; 64.2-1200 et seq.) of this
subtitle, specifically including the duty to account set forth in &#xA7;
64.2-1305.

HISTORY: 1997, c. 921, § 37.1-137.3; 2005, c. 716, § 37.2-1022; 2012, c. 614.