What Does a Guardian or Conservator of a Minor Do?
If property is left to a minor after someone dies, legally the minor won’t have any authority to take control of the property. In most cases, a court-supervised guardianship or conservatorship will need to be established for the benefit of the minor. Once selected by the judge, the guardian or conservator will have numerous duties and responsibilities with regard to taking care of all of the minor’s needs.Investing and Managing the Minor’s AssetsThe court appointed guardian or conservator will be responsible for deciding where the minor’s liquid assets will be held and who will be responsible for overseeing their investment, such as the guardian him or herself or a professional financial advisor. If the minor owns any real estate, then the guardian or conservator will be responsible for paying all of the bills for maintaining the property, such as taxes, mortgages and insurance. Paying for the Minor’s Health, Education and MaintenanceThe court appointed guardian or conservator will nee
Related Questions
- If the beneficiary has appointed an Attorney-In-Fact under a Power of Attorney, or had a Guardian/Conservator appointed by a court of competent jurisdiction, do I need to submit proof?
- How long does it take to get a guardian or conservator appointed by the Court?
- What Does a Guardian or Conservator of a Minor Do?
