What is the difference between a guardianship and a trust?

The primary difference between a guardianship and a trust is who bears responsibility for the decisions and actions taken. In a guardianship, the guardian is legally responsible for the decisions and actions taken on behalf of the ward. The ward is usually a child, or sometimes an adult who is unable to manage their own affairs due to mental or physical incapacity. The guardian is appointed by the court and has a duty to act in the best interests of the ward. In a trust, the trustee is responsible for the decisions and actions taken on behalf of the trust beneficiaries. The trustee is appointed by the settlor of the trust and has a fiduciary duty to act in the best interests of the beneficiaries. The trust beneficiaries may be an adult, or a child, and the trust assets may be used to provide for the beneficiary’s current needs or to save for their future. In Washington, guardianship proceedings are supervised by the court. The court oversees the guardianship and is ultimately responsible for the welfare of the ward. Trusts may also be supervised by the court, if necessary. The court will review the trust and make sure it is properly managed, but it is not responsible for the decisions and actions of the trustee.

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What is the difference between a guardianship and a trust?

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