Understanding a Guardian’s Fiduciary Duties

Finding yourself in the role of a guardian for a loved one facing health challenges can be overwhelming. This blog aims to bring clarity and confidence to your important role by focusing on a key responsibility: fiduciary duty. Understanding this duty will help you fulfill your responsibilities with care and integrity.

Document Decisions

Maintaining clear and detailed records of decisions, actions, and changes in care is crucial. Use journals, spreadsheets, or apps to ensure accuracy and transparency.

Report Regularly

As a guardian, you are often required to provide regular updates to the court. These updates should include information on the ward’s well-being, healthcare status, living arrangements, and any significant developments.

Avoid Conflicts of Interest

Identify and avoid conflicts of interest. Even the appearance of personal benefit at the ward’s expense can be problematic. Seek legal or professional guidance when in doubt.

Differentiate Roles

It’s essential to distinguish between the roles of a guardian and an executor of a will. Guardians make decisions for the living, while executors act posthumously. While one person may hold both roles, the duties and timing are entirely different.

Guardianship is a serious and noble commitment. No guardian is expected to know everything from the start, but understanding fiduciary duty is a vital first step. Remember, you’re not alone in this journey. Reach out for support when needed, and know that understanding your duties will empower you to perform them honorably.

Reach out if you want to discuss your responsibilities further or need support navigating this process. You are not alone.