Conservator Contract

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Conservator Contract is a commonly used form within South Carolina. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Conservator Contract

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Conservator Contract:

• This form pertains to the State of South Carolina

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about South Carolina’s Form 543GC - Conservator Contract up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct South Carolina form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some South Carolina probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form 543GC, take a break, and then review. Probate and estate settlement processes in SC are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form 543GC online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form 543GC witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Conservator Contract to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

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Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in South Carolina.

5 reasons you should submit 543GC as quickly as possible:

1. The sooner you begin, the faster South Carolina can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in South Carolina. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of South Carolina is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for South Carolina probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local South Carolina probate clerk or court for exact answers regarding Form 543GC, and when in doubt— consult a qualified trust & estates lawyer for that area.

Conservator Contract is one of the many probate court forms available for download through Atticus.

It may also be available through some South Carolina probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within South Carolina.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form 543GC - Conservator Contract f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the South Carolina probate court office.

Conservator Contract is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any South Carolina-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on South Carolina Form 543GC - Conservator Contract. You can use this to get an idea of the context of the form and what type of information is needed.

FORM #543GC (01/2019) 62-5-414, 62-5-416, 62-5-423, 62-5-427 STATE OF SOUTH CAROLINA ) ) COUNTY OF _____________________________________ ) ) ) ) IN THE MATTER OF: ) PROBATE COURT USE ONLY ) ________________________________________________, ) CASE NUMBER _______-GC-_______-________ a protected person. ) ) CONSERVATOR CONTRACT ) I, _____________________________________________________________, the court-appointed Conservator for _____________________________________________________________ understand, agree, and affirm the following: 1. Fiduciary Letter: I must record the Fiduciary Letter in the Register of Deeds office for county in which I have been appointed as the Conservator. If the Protected Person owns real estate in another county, I must also record my Fiduciary Letter in that county. A copy of the recorded Fiduciary Letter must be filed with this county’s Probate Court within sixty (60) days of my appointment. 2. Inventory & Appraisement: Within thirty (30) days after my appointment, I must file a complete Inventory and Appraisement (Form #550GC) of the Protected Person’s assets. The Inventory and Appraisement must be sent to the Protected Person, if he/she is fourteen (14) years old or older, to the parent or guardian of a minor, and to the adult Protected Person’s Guardian, if any. 3. Record Keeping: I must keep all bank records for the conservatorship account. This includes all bank statements, canceled checks, invoices paid, bills and statements. I must show them on demand to interested parties of the conservatorship and the Court. 4. Accounting/ Reporting: I must timely and properly account/ report to the Court by filing a Conservator Report (Forms #567GC-LF, #567GC-SF, #568GC) as follows: a. six (6) months from date of appointment if directed by the Court; b. one (1) year from the date of appointment and annually thereafter; c. promptly upon resignation or removal; d. promptly upon termination of the conservatorship; and e. at other times as the Probate Court requires. 5. Conservator Report Details: The Conservator Report must show, to the Probate Court’s satisfaction, the complete financial picture of the Protected Person’s estate, including what assets were received and disbursed. The Conservator Report must be supported by receipts, canceled checks, and any other proof the Probate Court may request. The Court may require a physical check of the assets. 6. Security: If bond is required of me, I must adhere to the requirements of the Affidavit of Conservator Regarding Bond (Form #544GC). I am required to adjust bond as necessary so it equals the value of the personal property in the estate plus the expected income for the upcoming year. I must keep the bond premium paid and provide a copy of the bond to the Court annually or, if the bond is for multiple years, at each renewal period or when the amount of the bond changes. 7. Conservatorship Accounts: If the Court requires me to open a restricted brokerage account or a restricted bank account, I shall not withdraw any funds without an order from the Probate Court. 8. Court Approval of Transactions: I may not acquire, dispose of, or change the character of an asset without Court approval. For example, I cannot sell real estate without an order from the Probate Court; or I may not make payments or distributions without prior written Court approval. The Court may require me to prepare and file a Financial Plan of Conservator. FORM #543GC (01/2019) 62-5-414, 62-5-416, 62-5-423, 62-5-427 9. Financial Plan of Conservator: I may choose to prepare and file a Financial Plan of Conservator, or the Probate Court may order me to do so. The Financial Plan will help me better understand, organize and make financial plans for the Protected Person’s estate. 10. Conservator’s Personal Interests: Any transaction involving me personally, my spouse, or an entity in which I have a substantial or beneficial interest must be approved by the Probate Court. 11. Use and Care of the Conservatorship Assets: I will not confuse or combine any funds belonging to the conservatorship with my personal funds or anyone else’s funds. I may use the assets and monies in the conservatorship only on behalf of the Protected Person. I am not permitted to use any conservatorship assets or monies for my personal debts or obligations, or to pay any of my own bills. I am not allowed to use conservatorship assets or monies for the debts or obligations of others, unless given specific permission by the Probate Court. 12. Fiduciary Standards of Care: I am a fiduciary and I am subject to a Trustee’s standard of care, which is referred to as the “prudent investor rule.” The prudent investor rule means that I must exercise the sound judgment and care of a prudent man acting in his own affairs. 13. I will ask for Court direction when I need it: I may request instruction from the Probate Court on my fiduciary responsibility. I may not ask anyone in the Probate Court’s office for legal guidance. If I am not able to understand my roles or responsibilities, I will seek legal advice from a professional like an attorney or accountant. 14. Compensation: I am entitled to reasonable compensation as determined by the Court based on my time, education, skills, experience, and efforts as Conservator. I have the option to waive compensation in the best interest of the Protected Person. 15. Current Contact Information: I must promptly report any changes of address of either myself or the Protected Person. I must also report the death of or significant improvement in health or capacity of the Protected Person to the Probate Court. 16. Special Minor Direction: I must have the minor who is fourteen (14) years old or older consent to all Application for Expenditures. Once the minor reaches fourteen (14) years of age, I am responsible for giving a copy of the annual report to the minor. 17. Conservator’s Representation: I fully understand the duties and responsibilities described above and agree to abide by and follow them. I acknowledge that I was given a copy of this document. I acknowledge that I can be held in contempt of court for violating any of the above and that contempt may consist of a monetary fine or jail. Executed this _____ day of ________________, 20_____. SWORN to before me this day of Signature: _____________________, 20 _____. Print Name: Address: ___________________________________ Print Name: _______________________ Preferred Telephone: Notary Public for: __________________ Secondary Telephone: (State) Email: My Commission Expires: _____________ (Date) Relationship to the Protected Person: