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A legal guardian is someone who has the legal authority to take care of a child should anything happen to the parents. Guardians are responsible for taking all parental decisions and can also be responsible for managing a child's property and inheritance.
A guardian has the duty to provide for the child's support, education, and religious training. Courts permit a guardian to use income and interest earned by the child's assets to pay for the child's needs, but they are reluctant to permit the guardian to spend the principal.
A legal guardian is a person who has been appointed by a court or otherwise has the legal authority (and the corresponding duty) to care for the personal and property interests of another person, called a ward.A parent of a child is normally not considered a guardian, though the responsibilities may be similar.
A guardian is responsible for an elder or minor ward's personal care, providing them with a place to live, and with ensuring their medical needs are met. Guardians make sure that their ward has a place to live, such as the guardian's home, with a caretaker, or in an assisted living or full care facility.
A guardian is also prohibited from making gifts from the ward's estate. Generally, a guardian cannot tie up the ward's money by purchasing real estate, but can lend the money to someone else buying real estate if the property is sufficient security for the loan.
Under certain circumstances, a Guardian may be personally liable for improper distributions, and may be compelled by a Court to make a distribution at the Ward's or Interested Person's request.
The guardian is responsible for deciding where the ward's liquid assets will be held and who will be responsible for overseeing the investments. If the ward owns any real estate, the guardian is responsible for paying all of the bills for maintaining the property such as taxes, mortgages and insurance.
The Court may appoint an emergency guardian when it appears that an individual lacks capacity, is in need of a guardian, and failure to make such an appointment will result in irreparable harm to the person and/or estate of the alleged incapacitated person (note the term incompetent is no longer used in guardianship
Protect, preserve, manage, and dispose of the estate according to law and for the best interest of the protected person. Use the protected person's estate for the proper care, maintenance, education, and support of the protected person and anyone to whom the protected person owes a legal duty of support.