What does "financial guardianship" entail?

What does "financial guardianship" entail?

• A. Management of the ward's personal relationships
• B. Healthcare decision-making for the ward
• C. The guardian's role in managing the ward's financial affairs
• D. Oversight of the ward’s daily activities

Answer: (C)

Financial guardianship specifically involves the responsibility of managing the ward's financial affairs. This means that the guardian is tasked with overseeing the ward's income, expenses, investments, and any other financial matters. The primary goal is to ensure that the ward's financial needs are met, that their assets are protected, and that their financial resources are used appropriately for their benefit. In this role, the guardian must be knowledgeable about financial matters and may also be responsible for budgeting, paying bills, filing taxes, and making decisions about investments. This role is critical to safeguard the ward's financial well-being and to prevent any potential exploitation or mismanagement of funds.

Financial guardianship specifically involves the responsibility of managing the ward's financial affairs. This means that the guardian is tasked with overseeing the ward's income, expenses, investments, and any other financial matters. The primary goal is to ensure that the ward's financial needs are met, that their assets are protected, and that their financial resources are used appropriately for their benefit.

In this role, the guardian must be knowledgeable about financial matters and may also be responsible for budgeting, paying bills, filing taxes, and making decisions about investments. This role is critical to safeguard the ward's financial well-being and to prevent any potential exploitation or mismanagement of funds.