West Virginia Guardianship Current Assets refer to the various types of assets held by a court-appointed guardian on behalf of an individual who is deemed legally incapacitated and unable to manage their financial affairs. A guardian is entrusted with the responsibility of protecting and managing these assets for the benefit of the incapacitated person, also known as the ward. Here is a detailed description of West Virginia Guardianship Current Assets, along with different types: 1. Real Estate: It encompasses any land, buildings, or properties owned by the ward. This may include residential homes, commercial buildings, vacant land, or rental properties. 2. Bank Accounts: It includes any checking or savings accounts held by the ward in various financial institutions within West Virginia. These accounts may contain funds needed to cover daily living expenses, pay bills, or receive income from investments. 3. Investment Accounts: Guardianship Current Assets may also include investment accounts like stocks, bonds, mutual funds, or retirement accounts held by the ward. These assets generate income through dividends, interest, or capital gains. 4. Personal Belongings: This category involves personal possessions of value such as vehicles, jewelry, artwork, recreational vehicles, or collectibles owned by the ward. 5. Life Insurance Policies: Guardianship may encompass life insurance policies owned by the ward. These policies provide a financial benefit to the ward's designated beneficiaries upon their passing. 6. Income from Trusts: If the ward is entitled to any trust income, such as from a revocable or irrevocable trust, it falls under Guardianship Current Assets. The guardian must ensure proper management and distribution of these funds. 7. Government Benefits: Certain government assistance programs like Social Security, Medicare, Medicaid, or veteran's benefits may be considered Guardianship Current Assets if they are received by the ward. The guardian must ensure that the ward receives these benefits as intended. 8. Business Interests: In cases where the ward has an ownership interest in a business or a partnership, the guardian becomes responsible for overseeing and managing those assets. It is crucial for a guardian to maintain a detailed inventory of the West Virginia Guardianship Current Assets. This inventory should include documentation identifying each asset, its fair market value, location, and any associated financial or legal records. By effectively managing these assets, the guardian fulfills their fiduciary duty of acting in the ward's best interests and ensuring their financial well-being.
West Virginia Guardianship Current Assets
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(a) Any adult individual may be appointed to serve as a guardian, a conservator or both upon a showing by the individual of the necessary education, ability and background to perform the duties of guardian or conservator and upon a determination by the court that the individual is capable of providing an active and ...
Guardianship/ You must file these completed documents at the office of the circuit clerk in the county in which the individual needing a guardian or conservator resides, or the county where the individual is admitted to a health care or correctional facility.
§48-10-301. Persons who may apply for grandparent visitation; venue. A grandparent of a child residing in this state may, by motion or petition, make application to the circuit court or family court of the county in which that child resides for an order granting visitation with his or her grandchild.
A legal guardianship is a judicially created and legally binding relationship between a child and caretaker which is intended to be permanent and self- sustaining as evidenced by the transfer to the caretaker of the following parental rights with respect to the child: Protection, education, care and control of the ...
(g) In granting a petition under this section, the court shall recognize a guardianship or conservatorship or protective order from the other state, including the determination of the incapacitated or protected person's incapacity and the appointment of the guardian or conservator.
A guardianship does not rewrite history. It just transfers the rights and responsibilities from the birth parents to the new guardians.
Legal guardianship means a court grants someone other than a biological parent the right to care for a minor. Custody (most often) generally describes a parent caring for his or her own child. Guardianship does not always grant custody or definitively mean a biological parent's custody is revoked.
