WHAT IS A GUARDIAN OF PROPERTY?

A guardian is a person who steps into your role as an individual. They help you fulfill the day-to-day needs that relate to your person. Whereas a guardian of the property is someone who is appointed to manage the financial affairs of a person. Someone whom you trust financially that is incapable of doing so for themselves. This is due to underlying circumstances such as a lack of financial knowledge. Also, lack of experience in both handling finances and taxes, or mental incapacity.

The person appointed by the court roles to serve, coordinate, and make responsible decisions. This on behalf of the property of an elderly, a disabled person, or a minor child; be it financially, legally, or both. A guardian of the property acts as a fiduciary for people who cannot pay their bills, cannot file their taxes, cannot manage checkbooks. A fiduciary makes sure that the accounting is done correctly. Usually, the court appoints an attorney from the court-approved list to serve in this role.

It doesn’t necessarily mean that you need to be an attorney to serve as a guardian of the property. The person appointed as guardian of the property needs to meet his/her obligations. If he/she doesn’t know how to manage all the finances of the person involved, an experienced attorney in Maryland will be appointed by the court to take over and serve in that role.

WHAT DOES IT TAKE ON APPOINTING AS A GUARDIAN IN MARYLAND?

To be appointed as a guardian of the property, you need to be able to do anything the incapable person can normally do when it comes to his/ her property. For example, collecting and depositing an income, paying bills, making monthly purchases for necessities, handling investments, recording all transactions, handling finances and taxes, and looking after legal matters.

Next, you will file a petition with the court and explain and present a detailed plan of why you have the capacity to serve in that role. You are a participant in the process after you file. You must complete the requirements in accordance with the standard court rules.

The court will then review the submitted petition to determine whether the proposed guardian is trustworthy, compassionate about the incapable person’s welfare, and is more likely responsible enough to manage the person’s finances.

WHAT ARE MY ROLES AS GUARDIAN OF THE PROPERTY?

A successfully appointed guardian of property should at least do the following responsibilities:

• The guardian should keep a record of all transactions written down fully and accurately. This record will house all checks, appointment orders, and any important documents like bills, debts, associate funds, assets, and so forth.
• Always act by the law not beyond the law. When the court orders a detailed plan or requirements, you should be able to carry it out. Especially the basic necessary tasks to avoid violations and potential removal. Always follow the court order.
• Remember that a disabled person also participates in the financial decision made on his/her behalf. Supportive family members, friends, and caregivers can be there to consult too. But the final responsibility and accountability for the decision always rest with the successfully appointed guardian.

Are you capable of becoming a guardian of property? We can give you a comprehensive answer that will help you understand this decision. And also the requirements that come along with serving in this role. You need an experienced Maryland Family Law Attorney who will advocate on your behalf will cater to your unique needs and questions. 

Contact Angel Murphy with The Murphy Law Firm, LLC today to schedule a consultation at (240) 493-9116. If you are active on social media, Like us on Facebook @AMurphyLegal, Follow us on Instagram @AMurphyLegal, and Twitter @AMurphy_Legal