Final Account

The final account distributes all remaining assets of the conservatorship. The conservatorship account must show a zero balance on hand.

If a Court order restores capacity to the ward, a conservator must distribute all assets to the ward as soon as possible, or within the deadline set by the order.

Upon the death of the ward, distributions are generally made to the decedent’s estate. If no one has qualified on the decedent’s estate within sixty (60) days of the date of death, you may want to seek legal advice.

In limited circumstances, a conservator has the authority to pay certain estate administration expenses and to make certain direct distributions to beneficiaries. See Virginia Code § 64.2-2026. A conservator is strongly encouraged to seek legal advice or request approval by the commissioner of accounts before exercising this limited authority.