What is the difference between a guardian and a custodian?

The difference between a guardian and a custodian is a key point of legal terminology in New York guardianship law. A guardian is typically a parent or an adult family member, appointed by a court or under a will, who is legally responsible for the care and well-being of an incompetent or disabled person—known as the “ward”—who can’t take care of themselves. A custodian, on the other hand, is appointed by a court to handle the financial or property affairs of said ward. These could include investments, banking, and the management of other financial or property assets. In other words, a custodian is responsible for making sure the ward’s finances are secure, properly managed, and used for the ward’s best interest. The main difference between a guardian and a custodian is that a guardian has the legal authority to make decisions for the ward, while a custodian is only authorized to make decisions regarding the ward’s financial or property affairs. In practice, the duties of guardians and custodians often overlap. For instance, a guardian may be responsible for making sure that the ward’s financial needs are met, while a custodian may be responsible for providing care for the ward. Ultimately, the key difference between these two legal terms comes down to the scope of decision making authority.

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What is the difference between a guardian and a custodian?

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