South Dakota Guardianship Current Assets refer to the financial resources and properties that a guardian manages on behalf of a ward, who is an individual that the courts have deemed incapable of managing their own affairs. These assets play a critical role in ensuring the ward's well-being and best interests are protected. In the context of South Dakota guardianship, current assets can encompass various categories. Some different types of South Dakota Guardianship Current Assets are: 1. Cash and Bank Accounts: This includes money held in checking or savings accounts belonging to the ward. It may also involve cash on hand, certificates of deposit, or money market accounts. 2. Investments: South Dakota guardians may be responsible for managing the ward's investment assets, such as stocks, bonds, mutual funds, or retirement accounts. 3. Real Estate: Current assets may include properties owned by the ward, including residential homes, rental properties, land, or commercial buildings. The guardian oversees the management, maintenance, and potential sale of such properties. 4. Personal Property: This category involves tangible possessions and belongings owned by the ward, such as vehicles, jewelry, artwork, furniture, and other household belongings. 5. Business Interests: In cases where the ward has ownership or partnership in a business, the guardian must oversee the management and decision-making related to these business assets. 6. Debts and Obligations: While not typically considered assets, the guardian may also need to handle the ward's outstanding debts, loans, and obligations, ensuring that they are paid off promptly and responsibly. 7. Government Benefits and Entitlements: Guardians may be responsible for managing various forms of governmental assistance or benefits that the ward may be eligible for, such as Social Security, Medicaid, or veteran's benefits. To effectively manage and protect these South Dakota Guardianship Current Assets, guardians must maintain accurate records, regularly report to the court, and make informed decisions in the best interest of the ward. Guardianship duties include the preservation of the assets, ensuring appropriate usage for the ward's care, and planning for the ward's future financial stability. Understanding the scope of South Dakota Guardianship Current Assets is crucial for guardians to fulfill their responsibilities effectively, making certain that the ward's financial resources are safeguarded and used wisely.
South Dakota Guardianship Current Assets
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FAQ
Under South Dakota law, a ?guardian? has authority over personal and healthcare decisions while a ?conservator? has authority over the protected person's property and financial affairs.
A petition explaining the need for a guardianship or conservatorship must be filed. An evaluation report from a doctor, a licensed psychologist, or a psychiatrist must be completed and filed with the court. A financial statement showing the financial resources of the protected person must also be prepared and filed.
Legal guardians have the same rights as biological parents, but a legal guardian is not always a child's mother or father and may or may not be related to a child by blood. For example, a grandparent might be appointed a child's legal guardian if for some reason a child's mother and father cannot care for a child.
Under South Dakota law, the temporary guardianship or conservatorship of a minor child cannot be longer than 6 months, and the temporary guardianship or conservatorship of a protected person cannot be longer than 90 days, unless extended for an additional 90 days by court order.
South Dakota child custody laws don't prescribe a certain age when a child's preference may be considered. Judges have broad discretion when deciding how much weight to give the child's preference. In some South Dakota custody cases, judges have considered the well-reasoned preferences of children as young as 10.
If a Guardian and Conservator is seeking to terminate the guardianship/conservatorship, the Guardian and Conservator must include the Final Report (UJS 142) and Final Accounting with Objection Notice (UJS 141). SDCL 29A-5-401, 29A-5-403.
The appointment of a guardian or conservator of a protected person does not constitute a general finding of legal incompetence unless the court so orders, and the protected person shall otherwise retain all rights which have not been granted to the guardian or conservator, with the exception of the ability to create an ...
