What is a guardianship of the estate?

A guardianship of the estate is a legal process in Georgia where a parent or guardian is given the power to manage and control the financial affairs of a minor. In Georgia, a guardianship of the estate is established when a judge appoints an adult to be the “guardian of the estate” for the minor. The guardian of the estate has the power to manage the income, funds, and assets of the minor. This includes the authority to receive and manage funds, enter into contracts, make investments, and assume other duties related to the minor’s finances. The guardian of the estate is also responsible for rendering a full and accurate account of the estate periodical to the court. This includes filing a report detailing any transfers, investments, or transactions made by the guardian on behalf of the minor and providing an accounting of any funds or assets received by the guardian. The court will then review and approve or disapprove the guardian’s actions before any assets can be released or transferred. In Georgia, guardians are required by law to ensure that the funds and assets are used only for the benefit of the minor. A guardian of the estate is usually appointed when parents are not able to manage their minor’s finances due to being absent, incapacitated, or unable to manage the estate. It is important to note that a guardianship of the estate does not allow the guardian to make decisions concerning the minor’s personal wellbeing or health care decisions.

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What is a guardianship of the estate?

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