SB 365 - This act modifies provisions relating to guardianships, including venue for guardianship and conservatorship cases and audits of pooled estate accounts for public administrators.VENUE IN GUARDIANSHIP AND CONSERVATORSHIP CASES (SECTION 475.040)
This act provides that a guardianship or conservatorship proceeding may be transferred to a court in another county if it appears to the court that at any time before the termination of a guardianship or conservatorship that the domicile, instead of the domicile or residence, of the ward or protectee has changed to another county.
This provision is identical to a provision in CCS/HCS/SS/SCS/SB 72 (2023), in the truly agreed to and finally passed HCS/SS/SB 103 (2023), in SCS/HCS/HBs 994, 52 & 984 (2023), and in HB 1013 (2023).
POOLED ESTATE ACCOUNTS (SECTION 475.275)
Currently, the Public Administrator of Jackson County, when serving as a conservator, is required to have any pooled accounts audited at least once a year. The audit shall provide a review of the records of receipts and disbursements and each estate account. Upon completion of the audit, the accountant shall render a report to the judge showing receipts, disbursements, and account balances as to each estate and as well as the total assets on deposit in the pooled account on the last calendar day of each year.
This act repeals the provisions and instead provides that a public administrator of any county serving as a conservator or personal representative using pooled accounts for the management of estate funds shall have such accounts examined on an annual basis. The examination shall:
(1) Compare the pooled account's year-end bank statement and obtain the reconciliation of the pooled account from the bank statement to the fiduciary's general ledger balance on the same day;
(2) Reconcile the total of individual accounts in the fiduciary's records to the reconciled pooled account's balance and note any difference;
(3) Confirm if collateral is pledged to secure accounts on deposit in the pooled account in excess of FDIC coverage; and
(4) Confirm the account balance with the financial institution.
The public administrator shall certify by affidavit that the conditions of this act for establishing pooled accounts have been met.
This provision is identical to a provision in CCS/HCS/SS/SCS/SB 72 (2023), in the truly agreed to and finally passed HCS/SS/SB 103 (2023), and in HB 1013 (2023).
KATIE O'BRIEN