A guardian or a conservator is a person who handles the affairs of another individual called a ward. A guardian is sometimes referred to as a conservator. However, their roles in estate slightly differs. While a guardian handles a ward personal matter, like healthcare, feeding and other basic supervisions, a conservator handles a ward finances, this could include, estate properties, bank accounts, investment and several others. Basically, a ward who is a minor is legally not permitted to handle large finances or inherited estate. The court at this point would assign a conservator to oversee the estate among other inherited properties. Guardians and conservator play very important roles. The court however would ensure that only the proper type of guardianship relationship is approved for the ward. Careful considerations are given to the wards need in order to appoint a suitable guardian.
Note: The ward maybe a minor needing a conservator for financial management or an aged individual with special needs. Peradventure, an aged individual requiring special medical care do not have legal documents dictating who the guardian should be, a court supervised guardianship would be imposed. The probate judge would go ahead to appoint a legal guardian.
Here are some of the roles of a legal guardian if the ward is a minor.
Handling personal care of the minor.
The guardian is responsible for personal care of the minor ward. This includes paying for education, health and other maintenance. Asides these, the legal guardian would train, correct the ward when there’s need while also ensuring adequate protection of the ward. Money used to pay for medical bills, feeding, education, vacation or other expenses is typically obtained from inherited estate, sale of assets or liquidation of inherited estate properties. In case the ward’s parent still lives, they would make funds available to the guardian to handle the minor’s care, thus there would be no need to touch any inherited assets.
Handling assets and finances belonging to the ward.
All properties or estate belonging to the ward will be controlled by the appointed guardian. The guardian will look to make the best of the ward’s finances and estate by selecting the right investment or secured place to keep the assets till the ward can legally handle it. Furthermore, the guardian would handle paying off expenses or taxes incurred on the estates inherited by the ward. Typically guardian appointed to this role are financially inclined and perhaps financial experts or advisors.
Note; the legal guardian will typically act on the orders of the court in accordance with type of guardianship relationship approved.
Deciding where the ward will live.
This is sometimes included in the duties of the legal guardian. The guardian decides where the minor ward should live. Oftentimes, parents of wards leave behind houses in which they would want their minor children to live. When appointing a guardian, the court ensures that these wishes are implemented. However, when there is no document stating where the minor should live, the guardian will decide the best place for the kid. Usually, the ward would stay with the appointed guardian.
Note, guardianship or conservatorship for the minor is terminated at 21 years. At this age, it believed that the minor would be able to handle personal care and asset inherited.
Make a proper estate plan to decide a guardian for your ward.
As parents, you need to consider making plans for suitable guardians for your minor. Through proper estate documents, you can adequately state your wish and desire. Contact a guardianship attorney for guide on the necessary paper work.
The guardianship attorney is always on hand to give advises to both the legal guardian and ward. The attorney would constantly remind the wards of his rights and also prevent any cause of actions against the ward’s or guardians legal rights as the case maybe.
Contact a guardianship attorney near you in New York City.
Asides providing necessary paperwork and documents, our guardianship attorney can contest any imposed guardianship or court supervised guardianship. In a nutshell, our attorney would defend your interest, whether you are a ward or an appointed legal guardian.
Contact an attorney closest to you today in New York City.