Can a guardianship be used for financial planning?

In Washington, guardianship can be used for financial planning if an individual is unable to manage their finances on their own. Generally, this is done when a person is no longer able to make decisions regarding their own finances due to a disability or other circumstances. The guardianship process involves a court appointing an individual (the guardian) who is responsible for managing the financial affairs of the incapacitated person. This includes decisions such as selling or buying property, overseeing investments, collecting income, and any other financial decisions. The guardian must also make sure that the incapacitated person’s rights are respected and that their best interests are met. This includes considering their personal preferences and avoiding conflicts of interest. The guardian is also obligated to report on the use of funds to the court and ensure that any income received is used in the best interests of the incapacitated person. The guardianship process can be beneficial for the incapacitated person because it ensures that someone is managing their finances in a way that respects their wishes and best interests. Guardians also have a legal obligation to ensure that the funds are being managed appropriately. This can provide financial security and peace of mind for the incapacitated person and their family.

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Can a guardianship be used for financial planning?

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