What is a guardianship of the property?

A guardian of the property is someone appointed by the court in Washington to manage the financial assets of an incapacitated person or a minor. This person is often referred to as a "conservator" and is responsible for making sure that the estate of the person is managed properly and responsibly. The Washington courts will look at several factors when appointing a guardian over the property. These factors include the age, physical and mental health, and financial condition of the person or minor whose property is being managed, as well as their ability to manage their own affairs. The court will also look at the experience, integrity, and capacity of the proposed guardian of the property. The role of the guardian is to manage the financial affairs of the person or minor, such as managing investments or taking care of bills and debts. In some cases, a guardian may be responsible for making sure that certain assets are held in trusts. They may also be responsible for providing reports to the court about the use and management of the property. The guardian is accountable to the court and must follow all the laws and regulations regarding guardianship of the property. This includes filing an annual accounting to the court of all their activities related to the guardianship. The guardian must act in the best interest of the person or minor and must avoid conflicts of interest.

Related FAQs

What is a guardianship of the estate?
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Are there tax implications for a guardianship?

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