Guardians have the legal authority—and the obligation—to care for another’s personal interests, property interests, or both. The person they’re acting for is called a ward. Guardians typically act for incapacitated seniors, developmentally disabled adults, and minors.
Guardians are fiduciaries, so they are held to a very high standard of care in exercising their powers. If the ward owns substantial property the guardian may be required to give a surety bond to protect the ward if the guardian’s dishonesty or incompetence causes the ward financial losses.
If you need advice about establishing a guardianship or leaving instructions for your own guardian should you ever become incapacitated, we can help.