Chapter 3

GUARDIAN OF THE ESTATE

Overview

The guardian of the estate is someone appointed by the court to manage the IP's finances. As guardian of the estate, it is your responsibility to make decisions on behalf of the IP about their income, investments, real estate, and other property they own. In addition, you must apply for, maintain, and renew government benefits on behalf of the IP.

You may spend the IP's income for the care and benefit of the IP. Income includes money they earn, Social Security and Veteran's benefits, and regular pension or retirement income. However, you must get the court's approval before you take certain actions including:

• Selling the IP’s real estate or other property
• Giving gifts or charitable donations
• Transferring the IP's money or property to others
• Spending the IP's principal. The IP's principal refers to any money or investments they had at the time you became their guardian as identified in the Inventory, money received when an asset of the IP is sold, and any money or assets received after your appointment that are not part of their incomexxxix

Unless you are also the guardian of the person, you do not have any decision-making power or responsibility related to personal care and medical decisions for the IP. If someone else is the guardian of the person, it is important to work with them in areas where the IP's personal care and finances overlap, such as what housing or activities they can afford that meet their needs.