Understanding a Guardian's Fiduciary Duties

Being named a guardian for a loved one facing serious health challenges can be both an honor and a daunting responsibility. While the role may seem overwhelming at first, understanding your fiduciary duties can provide clarity and confidence as you navigate this journey. Our goal is to help you fulfill your role with care and integrity while reassuring you that this challenge is something you don't have to face alone.

Document Decisions

One crucial aspect of your role as a guardian is to meticulously document all decisions, actions, and any changes relating to the care or living arrangements of your ward. Maintaining clear and detailed records will not only ensure accuracy and transparency but also help you manage responsibilities effectively. Consider using journals, spreadsheets, or specialized apps to keep everything organized.

Report Regularly

As a guardian, you are typically required to provide regular updates to the court. These reports should include information about the ward’s well-being, healthcare status, living arrangements, and any significant developments. Staying proactive with these updates can keep all stakeholders informed and ensure the best care for your ward.

Avoid Conflicts of Interest

An essential part of your fiduciary duty is to avoid conflicts of interest. It's important to recognize situations where personal benefit might compromise your responsibilities. Even the appearance of benefiting at your ward’s expense should be avoided. When in doubt, seek legal or professional advice to guide your decisions.

Differentiate Roles

It's important to distinguish between the role of a guardian and that of an executor of a will. Guardians make decisions for individuals who are living, whereas executors handle matters posthumously. Although one person can hold both roles, the duties and timing differ significantly. Understanding these distinctions will help you manage your responsibilities more effectively.

Remember, guardianship is a noble commitment, and while you aren't expected to know everything from the start, understanding fiduciary duties is a key step. If you need guidance or support, feel free to reach out and discuss your responsibilities. Rest assured, you're not alone in this journey, and support is always available to help you fulfill your duties with confidence and integrity.