In this Elder Law Minute, Crystal Post explains that guardians can organize and safeguard a ward’s finances without using personal funds.
Hi, I’m Crystal Post. I’m the new junior associate at Dent Coulson Elder Law. I’m really hoping that these Elder Law Minutes provide some insight and understanding to complex issues that everyday people face in the estate planning journey.
I’m going to expand a little bit on the legal duty for a guardian to safeguard the ward’s financial assets and be able to show the court in an organized manner that their money is kept separately from the ward. So, the idea there is that the guardian does not have to use their own money to pay towards bills personally. They can use the ward’s money, ideally in a separate bank account, as long as they stay organized, and then that money is used towards expenses for the ward’s best interest. So, this is something that we help clients organize a lot, and feel free to give us a call about it.
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