Guardianships are a large part of creating a comprehensive estate plan. Creating guardianship for a family member protects this person if they become incapacitated and require someone to manage their affairs on their behalf. Continue reading to learn more about guardianships and the responsibilities of a guardian. If you have any further questions regarding appointing a guardian, give our experienced Maryland estate planning attorney a call. We would be happy to assist you in creating a cohesive and comprehensive estate plan with your best interest in mind.
What is guardianship?
Creating a guardianship will allow you to care for the person in your guardianship when they become incapacitated and can no longer make decisions for themselves on their own. Guardianships can be created by different parties. Sometimes, parents will appoint a guardian to raise their minor child, should anything happen to prevent both parents from raising their child. Being appointed as a guardian of a child will allow you to manage their finances and care for and raise the child as your own. Other times, people may appoint themselves as the guardian of an elderly person who can not care for themselves on their own. In the case that an older person has not appointed a trusted individual to manage their finances and other affairs during the time of incapacitation, the court may appoint a guardian on their behalf.
I was appointed as a guardian, what now?
As a guardian, you will have full authority over the person in your guardianship’s property, assets, and other aspects of their life. It is important that you maintain the person in your guardianship’s best interest with each decision you make on their behalf. Guardians will also be expected to keep their assets separate from the person they are assisting. This is why it is important to keep detailed records of all financial transactions. Other responsibilities of a guardian include ensuring the individual’s healthcare needs are meant, paying all bills and taxes on time, and ensuring the person is living in a safe environment. You may have to report back to the court and answer questions regarding how you have conducted yourself as a guardian. A guardian is expected to follow all of the court’s instructions.
If you have any further questions about your role as a guardian, give our experienced Maryland estate planning firm a call.
Contact our experienced Montgomery County, Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.