This is a guardianship expenditures check list.
New Jersey Guardianship Expenditures
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FAQ
Guardianship of the person and estate. The guardian is responsible for the individual's healthcare and financial management. This applies when the ward also has assets that qualify as an estate. Guardianship of the person only. This applies when the ward needs to be looked after but does not have assets to manage.
Typically, the guardian is a family member or close friend. They have the same rights and responsibilities as a parent does for their minor child, making guardianship on a bank account similar to a minor savings account. ?Guardianships are treated the same way as minor accounts ? there's just a legal document present.
GUARDIANSHIP OF THE ESTATE The guardian of the estate is required to manage the child's funds, collect and make an inventory of the assets, keep accurate financial records, and regularly file financial accountings with the court.
What is a guardian? A guardian is a person appointed by the court to make healthcare and other mostly non-monetary decisions for someone who cannot make these types of decisions because of an injury, illness, or disability.
Fundamental responsibilities - The guardian of the person of a child has the care, custody, and control of the child. As guardian, you are responsible for providing for food, clothing, shelter, education, and all the medical and dental needs of the child.
Under New Jersey law?unless otherwise ordered?a guardian of the person shall personally visit the incapacitated person not less than once every three months. The guardian must maintain sufficient contact with the protected person to know his capacities, limitations, needs, opportunities and physical and mental health.
A guardian is an individual to whom a judge or a will gives the legal responsibility to care for a child or an adult who does not have the capacity for self-care. 1 The appointed individual is often responsible for both the care of the ward (the child or incapable adult) and that person's financial affairs.
Guardians in New Jersey are entitled to a 6% fee on all income received by guardian annually.