Indiana Guardianship Current Assets refer to the financial resources and property owned by a person who is under the legal guardianship of another individual in the state of Indiana. These assets are managed and protected by a court-appointed guardian for the benefit and well-being of the ward. In Indiana, there are various types of current assets that fall under the guardianship, and they can include: 1. Bank Accounts: This includes checking accounts, savings accounts, and certificates of deposit held by the ward. The guardian is responsible for managing these accounts, ensuring that they are used for the ward's needs, paying bills, and making financial decisions on their behalf. 2. Investment Portfolios: If the ward has any investment accounts such as stocks, bonds, mutual funds, or retirement accounts, the guardian oversees these assets, making investment decisions, monitoring performance, and ensuring that the investments align with the ward's goals and risk tolerance. 3. Real Estate: Any real property owned by the ward, such as a house, land, or commercial property, is considered a current asset under guardianship. The guardian might be responsible for renting, selling, or managing the property to generate income or meet the ward's housing needs. 4. Personal Property: This category includes valuable possessions like vehicles, jewelry, furniture, artwork, and collectibles. The guardian ensures the proper care, maintenance, and security of these assets or may decide to sell or dispose of them if it serves the best interests of the ward. 5. Income and Benefits: If the ward receives regular income from sources such as social security, pensions, annuities, or rental income, the guardian manages these funds to meet the ward's daily expenses, medical bills, and other financial obligations. 6. Business Interests: If the ward holds ownership in a business or has shares in a company, the guardian will oversee the management and decision-making related to these assets to maximize their value and protect the ward's interests. The primary role of an Indiana guardian is to act in the ward's best interests, considering their specific needs, financial goals, and the guidelines set by the court. The guardian has a fiduciary duty to handle these current assets responsibly, prudently, and with utmost care, ensuring that they are used exclusively to benefit the ward and enhance their overall quality of life.
Indiana Guardianship Current Assets
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File a Petition for Guardianship with a court with probate jurisdiction and notify the allegedly incapacitated person, all close family members, and any person or institution having care or custody of the allegedly incapacitated person during the 60 days preceding filing of guardianship petition. Pay the filing fee.
Reasons a Judge Will Terminate Parental Rights Mental illness or disability interfering with the ability to care for the child. Conviction or incarceration of the parent. Alcohol and/or substance abuse. Severe, chronic neglect. Physical abuse. Sexual abuse. Inability or refusal to meet the child's medical needs. Abandonment.
You must prove to the court that the guardianship is no longer necessary. This might seem like an easy standard to meet, but many courts also consider whether ending the guardianship is in ?the best interests of the child.? In Indiana, it is presumed that a natural parent is the best custodian of a child.
There are different types of guardianships in Indiana including limited guardianship, guardian ad litem, veterans administration guardianship, temporary guardianship, and de facto guardianship.
In addition to monthly GAP payments, you may receive a one-time reimbursement payment of up to $2,000 per child for expenses related to obtaining guardi- anship for the child, such as attorney and Court fees. This payment is covered under the Guardianship Assistance Program.
The Guardians' Right to Restrict Visitation/Contact with Adults. If there is a guardian over an adult, the guardian does have the ability to restrict other people's contact with the protected person in limited circumstances.
In the Indiana Code, there appear to be some very finely nuanced differences between guardianship and third party custody, but ing to Indiana case law, there is no practical difference between the two.
Guardianship creates a legal relationship between a child and caregiver that is intended to be perma- nent and self-sustaining and can provide a permanent family for the child without the necessity of terminating parental rights.
