The legal relationship between the guardian – a person who has been appointed by the court to manage and look after the property of a person, better known as the ward who does not have the legal capacity because of many reasons such as age, disability, self control and comprehension etc.
The term guardian often refers to a person who manages the affairs of a person who is not able to take care of his own monetary affairs. In most cases, this ward is the infant who is below the age of an adult or is disabled or mentally incapable of taking care of himself despite physically attaining the age of an adult. Most children below the age of 18 and 21 years have a legal guardian to look after their assets and financial well being as well as adults that are mentally challenged.
The courts often appoint guardians to take care of the property and personal well being of adults that are not able to take care of themselves. These may include people who are incapacitated due to physical and mental problems, alcohol and drug abuse as well as other forms of disability. The entire conservation of the property and overseeing the day to day personal care of the ward is the job of the legal guardian. In many ways, the term conservator is also used to designate the guardian who is managing the property of an adult who is not in a position to do so.
There are two types of guardians – one is the guardian for property and the other is the guardian of a person. The guardian has the custody of the ward and takes care of the daily needs of his ward. The guardian then manages the property as per his rights and carries out the duty to hold and manage property belonging to the ward. In certain cases though, the ward and the guardian together divide responsibilities among themselves and carry out monetary responsibilities.
For further information about the legal responsibilities of the guardian of a property, contact Notarizers by email at Info@Notarizers.ca or by phone at 416-782-5926.