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IN THE COURT OF APPEALS OF IOWA No. 0-577 / 10-0096 Filed November 24, 2010

IN THE MATTER OF THE CONSERVATORSHIP OF ROSE V. ALESSIO, Plaintiff-Appellant, vs. FIRST COMMUNITY TRUST, N.A., Defendant-Appellee. ________________________________________________________________

Appeal from the Iowa District Court for Fayette County, Richard D. Stochl, Judge.

The executor of a decedent's estate appeals from a district court order discharging the conservator and transferring the conservatorship's assets without directing the conservator to make a reimbursement for investments made without court approval. AFFIRMED.

Hugh M. Field of Beecher, Field, Walker, Morris, Hoffman & Johnson, P.C., Waterloo, for appellant. Gary F. McClintock of McClintock Law Office, Independence, for appellee.

Heard by Mansfield, P.J., and Danilson and Tabor, JJ.

2 MANSFIELD, P.J. Michael Leo, in his capacity as the executor of the Estate of Rose Alessio, appeals the district court order discharging the conservator, First Community Trust, N.A. (FCT), and transferring the conservatorship assets without ordering a reimbursement for equity investments that decreased in value by $34,272.39. Michael contends the conservator made the investments without court approval, and therefore should be held liable for the loss that resulted. Michael also

alleges the investments were imprudent. FCT responds that the investments were prudent under the circumstances, and that it should be shielded from legal liability despite the failure to obtain prior court approval.

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