What is a guardianship of the estate?

A guardianship of the estate is a legal arrangement in which a court appoints a guardian to manage the estate of a minor, incapacitated adult, or other individual unable to manage their own finances. Depending on the situation, the guardian may have authority to make decisions regarding an individual’s assets, investments, and estate. In South Carolina, the probate court oversees guardianship of the estate proceedings. A guardian may be appointed for a minor or incapacitated adult if it is in the best interest of the individual. The guardian is responsible for protecting the individual’s assets and using them for the benefit of the individual. A guardian of the estate is typically a relative or close friend of the individual, but in some cases, a court-appointed professional might be appointed. As guardian of the estate, the guardian will oversee all financial matters, pay an individual’s debts and bills, manage investments, open and manage bank accounts, handle real estate matters, and ensure taxes are paid. The guardian will also need to provide accountings to the court periodically and be held liable by the court for any mismanagement of the individual’s assets. In South Carolina, guardianship of the estate is an important legal arrangement that ensures individuals are financially taken care of and protected, which is especially important in cases involving minors or incapacitated adults.

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What is a guardianship of the estate?

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