Скачать или смотреть What Are The Responsibilities Of Guardian Over Estate?

Northwest Indiana estate planning lawyer Guy D. Martino explains the critical, often misunderstood role of a "Guardian of the Estate" for minor children. This role is separate from caring for the child's daily needs and comes with serious legal responsibilities.

In this video, you'll learn:

👤 Two Types of Guardianship:

Guardian of the Person: Responsible for the child's daily care, housing, education, and health.

Guardian of the Estate (The "Controller"): Manages the child's money and property until they become adults.

💰 Key Duties of a Guardian of the Estate:

Strict Accounting: Must track every dollar coming in (e.g., from Social Security death benefits, life insurance, inheritance) and every dollar going out.

Court Supervision: Acts under the ongoing authority of the probate court. They must file detailed annual accountings for the judge's review.

Prudent Spending: Money can only be used for the child's "reasonable needs" (education, healthcare, support). It cannot be used for the guardian's personal expenses.

Court Approval for Major Expenses: Large expenditures (e.g., buying a car, using funds for a down payment on a home) often require prior approval from the probate court.

Asset Preservation: The guardian must protect the assets and avoid risky investments, ensuring the inheritance is preserved for the child.

⚖️ The Big Picture:
This role is about fiduciary duty, not control. The guardian is a financial manager accountable to the court and, ultimately, to the child. The goal is to protect the assets until the child reaches the age of inheritance (usually 18 in Indiana).

Planning Ahead? A well-drafted trust can often avoid the need for a court-supervised guardianship of the estate, providing more flexibility and less bureaucracy.

If you have questions about appointing a guardian or managing an inheritance for a minor, contact us for guidance.

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✔ Contact Guy D. Martino P.C. _

1000 Washington St.
Michigan City, IN 46360
(219) 690-8997
🔗 https://guydimartino.com/

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