Define: Guardian Of The Estate

A guardian of the estate is a person appointed by a court to manage the financial affairs and assets of an individual who is incapable of managing their own financial matters due to incapacity, disability, or other circumstances. This individual, known as the ward, may be a minor, an incapacitated adult, or someone otherwise deemed unable to handle their financial affairs independently. The guardian of the estate has a fiduciary duty to act in the best interests of the ward and to manage their assets prudently and responsibly. Responsibilities typically include paying bills, managing investments, handling property transactions, and making financial decisions on behalf of the ward. Guardians of the estate are subject to court oversight and may be required to obtain court approval for certain financial transactions or decisions. The appointment of a guardian of the estate is often necessary to protect the assets and financial well-being of individuals who are unable to manage their affairs due to incapacity or vulnerability.

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March 2024.