What is a Conservator?
A conservator is appointed by the court to manage the assets of a loved one (protected person) who is no longer able to do so themselves due to failing health, injury, or disability. A conservator undertakes the important duties of managing the protected person’s estate as required by Oregon law. Among other things, a conservator must:
- Take an inventory of the protected person’s assets and file the inventory with the court
- Assume responsibility for safeguarding the assets of the estate
- Pay bills on time and manage real estate and personal property
- Keep track of all expenditures and file a written accounting with the court each year
- Prepare and file all federal and state income tax returns and pay taxes due
Oregon Pacific Bank as Conservator
Oregon Pacific Bank can be appointed as the conservator for a protected person. Our professionals will take the time to understand the needs and limitations of the protected person, encouraging their participation to the greatest extent possible. Families can rest assured that we will act in the best interest of their loved one, from both a personal and economic standpoint.
*Oregon Pacific Bank’s trust department offers products that are not FDIC insured, are not guaranteed by the Bank, and are subject to loss of principal