Frequently Asked Questions
In a guardianship of the person, when should the Report of Well-Being be filed?
The guardian must consult the Judgement to determine when he or she is required to file as to the well-being of the protected person. In ordered to report annually, the due date will be based on the anniversary of the…
What is the schedule for filing periodic guardian of the estate reports?
If ordered to account annually, the due date will be on the anniversary of the Judgement date. The first annual accounting should include all activity from the date of the appointment through and including the last day of the twelfth…
When preparing an inventory, how does the guardian determine the value of the assets?
The cash value of bank accounts, brokerage accounts, annuities and/or life insurance policies will be the value on the date the guardian was appointed. Determining the value of other assets may require professional documented appraisals. On the inventory, indicate the…
Is it really necessary to keep all records – even invoices and receipts – to show the expenses paid from the guardianship estate?
Keeping meticulous records is especially challenging for a guardian of the estate. This is especially true if it is complicated by factors such as: family conflict, prior financial mismanagement, or complex and valuable assets. While the same basic rules apply…
What is the difference between substituted judgment and best interest?
When using substituted judgement, a guardian makes a decision that the protected person would make if he or she had the capacity. This is usually based on preferences previously expressed by the protected person. In contrast, a decision made based…
