Responsibilities and Procedures of a Guardian of the Estate

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Understand the duties of a guardian of the estate, from before accepting the position to reporting to the court regularly, managing assets prudently, and making decisions in the best interest of the person under guardianship. This comprehensive guide covers essential steps, including establishing separate accounts, submitting reports, and obtaining court approval for major decisions.

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Reporting to the Court when you are Guardian of the Estate 1

Before Accepting the Position After Accepting the Position The First 90 Days 4 Must Do Steps Guardian Reports Initial Report Standby Guardian Annual Reports Other Reports Closing the Guardianship/Final Reports Resources Helpful Tips 2

Before Accepting the Position Ask/Review GAL Report Skills & Time to Serve Ask/Review Proposed Court Order Bond/unblocked accounts Full or limited guardianship What powers have Guardianship Training Program 3

Duties of Financial Estate Guardian Primary Duty To use assets to benefit the Person in the Guardianship How to Do This Manage and protect the property Pay bills for support/care File an inventory Keep records Report to Court regularly 4

Guardians Must Be Prudent & conservative Transparent in all actions Aware of conflict of interest No co-mingling assets with your own Separate bank accounts Separate investment accounts Separate tool chests, equipment, jewelry, etc. 5

Limits on Decisions Court supervision Read the Order of Guardianship Court approval to buy or sell personal and real property to file suit to regain assets What would the Person in the Guardianship want? 6

After Accepting the Position Be Prepared Guardian Oath Letters of Guardian Money to pay for Copies If Bond is Needed Insurance Company-Court Order Bond Acceptance Letter to Court Clerk DSHS Guardianship Letters & Order of Guardianship 7

Portable Legal File Letter of Guardianship Court Order Appointment of Guardianship Contact/Information Sheet Card Holder: important contact cards Attorney & Doctor Facility Bank & Investment Agent POLST Debit Card or Checks 8

First 90 Days Visit The Person in the Guardianship Understand them, their wants and their desires Understand their needs The Facility or Home The Family Understand them, their wants and their desires Understand their needs, too Effects your budget and financial planning 9

First 90 Days Be a Detective What are their Assets and their Liabilities? Income Sources and Expenses? Where are the Legal Documents? Are there any? What type of public benefits do they qualify for? Burial needs: Type? Paid for? Where is the safety deposit box and key? Insurance on the house, car or on them? Are the bills paid? Real Estate taxes paid? Tax return filed? Department of Revenue unclaimed property? Bank statements? Investment statements? And the lists go on Gather information to use to create the inventory report, a budget, an accounting system Protect the Assets 10

Banks & Financial Institutions Find the money Get control of it If the Person in the Guardianship is capable keep a small account for their use and monitor it Don't pay bills out of an account they have access to Change the account title or change the account: Susanne Altman Guardian for Jane Doe Use the person of the guardian's social security number NO joint ownership NO Right of Survivorship Be aware of BENEFICIARY issues 11

4 Common Steps You MUST Do 1) Set up a Filing System 2) Set up an Accounting System 3) Set up an Activity/Time Log 4) Document, Document, and Document 12

Record Keeping & Consequences 1) Fiduciary Duty of Care 2) Must be accurate and complete 3) Audit proof Consequences Court can replace you for not keeping accurate records Charge you with the cost of recreating guardianship records Make you pay for not properly documented expenses Cannot produce annual/triennial reports 13

Guardianship Reports First 90 Days Order Appointing Limited Guardian of Estate/Full Guardian of Estate Oath of Guardian Letters of Guardian Designation of and Consent of In-State (Resident) Agent Designation of Standby Guardian RCW 11.88.125 Declaration of Guardian: Assets Held in Financial Institutions Guardianship Inventory RCW 11.92_040(1) Receipt of Funds into Blocked Financial Account Notice of Right to Request Special Notice RCW 11.92.150 Request for Special Notice Declaration of Service Order Approving Budget, Disbursements, and Initial Personal Care Plan 14

Inventory Report 90 Day Report Purpose Identify Assets/Liabilities Identify Income/Expenses Value of Financial Estate Locate Real and Personal Property Establish the Guardian Responsibilities Starting point for your accounting and reporting 15

Inventory Report 90 Day Report Begin with the Assets Real Estate Home Other real estate Bank Accounts Investment Accounts Household Furnishings Automobile/boats Other firearms, appraised jewelry, silver, bonds, cash, fishing equipment, antiques, etc. 16

Inventory Report 90 Day Report Income Sources and Amounts per Month Wages Social Security or SSI Dividends and Interest Pensions/IRAs Veteran's Benefits Contract Collections 17

Inventory Report 90 Day Report Liabilities and Debts Mortgages Car/boat/RV loans Credit cards Student loans Creditors Real Estate Taxes Back taxes liens Garnishments Time Date of appointment 18

Designation of Standby Guardian File At 90 days or at time of appointment Purpose Continuous support for Person of Guardianship Coverage for when guardian is unavailable Authority Provide timely, informed consent of necessary medical procedures 19

The Annual or Periodic Reports Forms Notice of Hearing and Declaration of Mailing Guardian's Report Accounting, Proposed Budget Order Approving Guardian's Report, Accounting Purpose Inform the Court and interested parties of financial status Time frame covered Sets the next report time frame Provides a new Inventory 20

The Annual or Periodic Reports Provides information on Bonds and blocked accounts Guardian fees Attorney fees Request Court approval of report Provides a proposed Budget Balance Sheet Income Statement Estate Information Beginning Balance Sheet Plus Income/Receipts Less Disbursements (expenses) Plus/Minus Adjustments Ending Balance Sheet 21

Projected Monthly Budget Monthly Income: Social Security 1,500.00 Pension 935.00 Interest 75.00 Total Monthly Income: 2,510.00 Monthly Expenses: Facility 7,500.00 Attorney Fees 300.00 Medial Expenses 965.00 Personal Care 150.00 8,915.00 Total Monthly Expense: Deficit per month (6,405.00) Full Year Expenses: 106,980.00 22

Benefits of the Annual/Periodic Accounting 1) Limits Guardian's Liability limits the time a legal challenge may be brought 2) Request guidance from the Court on issues 3) Obtain approval on your actions New Letters of Guardianship are issued 23

Other Reports Use appropriate form for your county If your county does not have required forms Use forms from Washington Administrative Office of the Courts Change of Circumstances Within 30 days of change Change of address Financial change 24

Some Situations to Seek Court Authority Recovering property Payment of fees: Guardian or Attorney or Professional Approval to gift, sell, lease, mortgage, or grant an easement, license or similar interest of real property Approval to gift, sell, donate or dispose of personal property To make major changes in the form of Assets Compromise claim against or debt of estate Other actions not listed in original order appointing guardian To move the person in the guardianship to a different location Seeking Court authority to file a petition for dissolution of marriage or register domestic partnership Selling the house-consistent with RCE 11.90.090-125 25

Closing the Guardianship and Final Reports Declaration of completion Notice of Filing a Declaration of Completion Declaration of Mailing Notice of Death of Incapacitated Person Notice of Guardian's Intent to Resign and Petition Successor Guardian Order Appointing Successor Limited Guardian or Full Guardian of the Estate Petition for Order Approving Guardian's Activities Order Approving Guardian's Final Report Petition for Order Closing Guardianship and Discharge Order Closing Guardianship and Discharging Guardian 90 days to file final report and accounting 30 days to transfer assets to new guardian/PR 26

Where to Find Forms and Attachments to Report Check with your County Washington State Guardianship Forms Ask your attorney Ask your local Certified Professional Guardian Washington RCW on Guardianship 27

Helpful Tips Washington RCW on Guardianship Attorney Certified Professional Guardians Other Lay Guardians Spokane and King County, as well as others have developed Guardian handbooks 28

Two Additional Items Notify the Department of Revenue 60 days Mail them the following: Cover Letter giving notice of appointment Letter of Guardianship Copy of your Order Appointing you Guardian You could be held responsible for taxes 29