What is a guardianship of the property?

A guardianship of the property is a legal arrangement made in the state of Virginia that puts a guardian in charge of managing the financial affairs of another person, such as a minor, elderly relative, or person with disabilities. A guardianship of the property gives the guardian the authority to manage the ward’s finances, including paying debts, making investments, and protecting the ward’s assets. It can also involve making decisions related to buying or selling real estate, entering into contracts, and even filing or prosecuting lawsuits on behalf of the ward. A guardian of the property must act in the best interests of the ward, as required by Virginia guardianship law. In some cases, a court may require that an annual accounting of the ward’s assets and transactions be provided to the court. Guardianship of the property is a legal arrangement that can provide security and peace of mind for all involved in the guardianship arrangement.

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What is a guardianship of the property?

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