Section 5-425
Subject to the restrictions in section 5–407(c), the court may confer on a conservator at the time of appointment or later, in addition to the powers conferred by sections 5–423 and 5–424, any power that the court itself could exercise under sections 5–407(c) and 5–407(d). The court, at the time of appointment or later, may limit the powers of a conservator otherwise conferred by sections 5–423 and 5–424 or previously conferred by the court and may at any time remove or modify any limitation. If the court limits any power conferred on the conservator by section 5–423 or section 5–424, or specifies, as provided in section 5–419(a), that title to some but not all assets of the protected person vest in the conservator, the limitation or specification of assets subject to the conservatorship shall be endorsed upon the letters of appointment.
Comment
This section makes it possible to appoint a fiduciary whose powers are limited to part of the estate or who may conduct important transactions only with special court authorization. In the latter case, a conservator would be in much the same position of a guardian of property under the law currently in force in most states, but he would have title to the property. The purpose of giving conservators title as trustees is to ensure that the provisions for protection of third parties have full effect. The Veterans Administration may insist, when it is paying benefits to a minor or disabled person, that the letters of conservatorship limit powers to those of a guardian under the Uniform Veteran's Guardianship Act and require the conservator to file annual accounts.
The court may not only limit the powers of the conservator, but it may expand powers of the conservator so as to make it possible to act as the court itself might act.