Guardianship is a critical component of a comprehensive estate plan. The state of Maryland takes guardianship matters seriously, as they recently made it a requirement for all future guardians to partake in an orientation program. If you have been appointed to act as a guardian or you are petitioning for this role, follow along to discover how a proficient Montgomery County guardianship attorney at JD Katz, PC can assist with your case.
How does the state of Maryland define guardianship?
If you were granted guardianship of a person, this allows you to care for them when they become incapacitated or otherwise no longer able to make decisions for themselves. For example, you can be granted guardianship to raise a minor child, should anything happen to prevent both parents from raising them. With this, you will manage the child’s finances and raise them as your own. Another example is you can be granted guardianship over an elderly person who cannot care for themselves on their own. Sometimes, the elderly person may appoint you to manage their finances and other affairs, and other times, the Maryland courts may appoint you on their behalf.
If I was granted guardianship, what are my responsibilities?
In the state of Maryland, if you are appointed to act as the guardian for another person’s property or money, you are also considered a fiduciary. With that being said, you must fulfill the below responsibilities:
- You must only act in the individual’s best interest.
- You must manage the individual’s money and property carefully.
- You must keep all of the individual’s money and property separate from your own.
- You must keep good records of all the individual’s money and property.
On top of this, as a guardian, you also have responsibilities to fulfill with the court. Since you are trusted to meet all required duties, you must be prepared to answer any questions the court may have. Such questions may pertain to the following:
- You must ensure that all bills and taxes are paid on time.
- You must ensure that the individual is living in a safe environment.
- You must make an inventory of all of the individual’s assets.
- You must follow any specific instructions that the court may give you.
- You must keep receipts of all expenses.
- You must ensure all healthcare needs are met if your arrangement requires so.
If you have any further questions regarding your role as a guardian, do not hesitate in reaching out to a talented Montgomery County estate planning attorney today.
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Our firm has experience with matters of estates & elder law, business law, tax law, and litigation. Contact JD Katz, PC today for assistance.