(3)__Punitive and exemplary damages in an amount not to exceed 15% of the actual losses of the estate as described in paragraphs (1) and (2); except when the conservator is found to have acted in bad faith or with deceit or to be guilty of willful malfeasance, in which case, the punitive and exemplary damages may be imposed in an amount not to exceed 3 times the losses described in paragraphs (1) and (2).

SUMMARY

This bill amends the Probate Code governing conservators of the estates of minors or disabled persons in the following manner.

1. Current law requires the conservator to file with the court a complete inventory of the estate. This bill allows the court, in the event that an inventory is not filed or the inventory that is filed is incomplete, to rely on the opinion of an appraiser or owner of similar property, even if the person has not seen the missing property. The burden of proving that the property was not required to be inventoried is placed on the conservator.

2. Current law allows a party to bring a proceeding for surcharge to determine liability of the conservator for malfeasance committed in the course of administration of the estate. This bill clarifies what constitutes malfeasance or improper management of the estate and allows the court to award damages and costs.