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WhatWeDo Guardians of the Estate

WhatWeDo Guardians of the Estate

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Published by ellieboo39

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Published by: ellieboo39 on Dec 26, 2010
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05/12/2014

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Legal Duties and Responsibilities for Guardian of Estate Only 
Protect, preserve and manage all assets belonging to ward. Aplan should be prepared to address the needs of the ward.
Budgets should be prepared to maximize benefits for the ward.
To use the assets for the proper care, maintenance, educationand support of the ward. (A guardian is not required to incurexpenses for the benefit of the ward except to the extent thatthe ward’s estate will allow. Guardians must keep theirpersonal funds completely separate from their wards.
Examine and verify validity of all requests for payments.
Identify and apply for benefits as found appropriate on behalf of the ward.
InvestmentsA guardian may, without prior approval of the court, invest theward’s funds in the following:
Federal Deposit Insurance Corporation (FDIC) or FederalSavings and Loan Insurance Corporation (FSLIC) insuredsavings accounts in any bank or savings and loan institution.
Interest-bearing obligations of or fully guaranteed by theUnited States.
Interest-bearing obligations of the United State PostalServices.
Interest-bearing obligations of any county, city, or schooldistrict of this state.
A Guardian of the Estate must seek court permission for thefollowing:
To sell, lease, place into trust or surrender any property of theward.
To invest the property of the ward.
To continue the business of the ward.
To borrow money for the ward.

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