Conservator Accounts

Conservator Accounts. A. The term “conservatorship account” refers to a financial account in which a person or institution has been appointed by a court to manage and preserve the assets of an individual which are held in the account. B. Absent evidence to the contrary, the funds are available for the individual’s support and maintenance and are countable as that person’s resource. C. The court order establishing the account verifies it. 1. The fact that an individual has to petition the court for withdrawal of funds does not mean the funds may be assumed to be unavailable. 2. The denial of a request for withdrawal of funds by the court does not necessarily mean the funds in the account are unavailable for the individual’s support or maintenance. a) A history of the petitions for and approvals and denials of funds may reveal the court approves petitions to withdraw funds to provide maintenance and support and only denies non-essential items; or b) The court’s denial of a request is the exception rather than the rule. In either instance, the funds are considered an available resource.