Guardian of the person handles the health and well-being of the ward. Guardian of the Estate handles finances and assets.
6 tips to make your guardianship run smoother and easier:
Guardians of the Estate should:
1. Keep detailed records of the money received & payments made on behalf of the adult with disabilities or the minor
- Practice Pointer: Each month have a folder dedicated to that month’s activities. In that folder file all bills, all receipts, all financial statements. Keep the folders in one place – a cabinet, a plastic container, a drawer.
2. ALWAYS use a separate bank account for just the adult with disabilities’ money/payments are held. Do not Commingle (do not deposit the ward’s funds with your funds and vice versa). This account is in their name only.
3. Pay separately for the adult with disabilities’ needs. Keep those receipts as support for money expended. For instance – eating out – have a separate tab for the ward.
4. If the Ward has investment money, use a licensed, reputable financial advisor. Best to use someone independent, in other words, don’t use your brother-in-law. Invest prudently (in other words – don’t gamble on risky investments).
Guardians of the Person for Health and wellness matters:
- If you are providing direct care for the ward, when you go out of town appoint a stand-by guardian to handle that ward’s needs while you are away.
- Schedule regular medical and dental check-ups.
Remember the Guiding Rule of Guardianship: Each act is in the best interest of the Ward.
Call Kirk Sanders for incompetency & guardianship proceedings OR when the Guardian is embezzling or misappropriating funds from the ward.