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What is
Guardianship?
What are the types of Guardianship?
What does guardianship of a person entail?
What is guardianship of an estate?
What are the annual reporting requirements?
Guardianship
Guardianship is a tool to be considered
only when a person cannot because of age or mental limitations, make
competent decisions regarding his/her own affairs. It is the most
restrictive and intrusive form of surrogate decision making.
Guardianship is necessary when access to the individual’s assets is
required (to pay for care or basic necessities) or healthcare and
living decisions must be made. An individual, who has an appointed
guardian, is called the ward.
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Arkansas Legislature has set out two
basic types of guardianships:
Guardianship of the Person that
allows the Guardian to make decisions about where you live and the
medical treatment you will receive.
Guardianship of the Estate that
allows the Guardian to make decisions about and control your
finances.
There are different degrees of
guardianship. It may be limited, giving only specifically
described powers to the guardian, or the guardianship may be
total. It can also be temporary or permanent.
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A guardian with power over the person
refers to the individual appointed by the circuit court to have
legal rights and powers of personal decision making over the
individual. The Court may authorize a guardian to ensure the
individual’s personal needs and care needs are met. This includes
housing and medical care.
A guardianship of the person grants the
guardian powers over the ward’s personal care, but not over his
property. The guardian is generally responsible for the ward’s care
and protection. This means that the guardian must make decisions
regarding the living arrangements, health care, personal care,
meals, housekeeping, transportation, recreation, and all other
aspects of the daily living needs of the ward.
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A guardian with power over the estate
refers to the individual authorized by the Court to assume
responsibility for the management of all or part of the individual’s
property. This might include the individual’s income, stocks and
bonds, certificates of deposit, real estate or other assets. These
assets must be kept separate from the guardian’s assets. The Court
requires an accounting of all income and use of assets.
A guardianship of the estate only
grants the guardian powers over the ward’s property. The guardian
is responsible for the financial management of the ward’s assets.
The ward’s assets must be managed consistent with ward’s needs.
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The guardian is required to submit an
annual report to the Court. The report details the current
condition of the ward. It also reports on the income received by
the ward, the assets owned and the expenses made for the ward.
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