If you are in need to get money out of a conservatorship estate – and yet the letters of authority are restricted – then you’ll want to know all about the Petition for Use of Funds. This State Court Administrative Office form will allow people to file the request to get money out of a restricted conservatorship account.
The State Court Administrative Office forms are associated with Michigan Court Rules and statutes. The Petition for Use of Funds form is no different. The Petition for Use of Funds form is associated with MCL 700.5427, which states:
Subject to the restrictions in section 5407(3), at the time of appointment or later, the court may confer on a conservator, in addition to the powers conferred by sections 5423 to 5426, any power that the court itself could exercise under section 5407(2)(b) and (c). At the time of appointment or later, the court may limit the powers of a conservator otherwise conferred by sections 5423 to 5426 or previously conferred by the court, and may at any time remove or modify a limitation. If the court limits a power conferred on the conservator by sections 5423 to 5426 or specifies, as provided in section 5419(1), that title to some, but not all, of the protected individual’s property vests in the conservator, the limitation or specification of property subject to the conservatorship shall be endorsed upon the letters of appointment.
To help you understand this form better, Darren Findling of The Probate Pro covers everything you’ll need to know in this video.
Like Darren, we’re ready to help you understand all things related to probate.
If you have any probate related questions, don’t hesitate to give The Probate Pro a call today at (833) PROBATE. Our legal family is ready to help you.