What is the responsibility of a guardian concerning the management of a ward's finances?

A guardian has a fiduciary duty to manage a ward's finances responsibly and transparently. This responsibility includes ensuring proper accounting and reporting of all financial transactions related to the ward’s assets. Guardians are required to keep accurate records of income, expenses, and any financial decisions made on behalf of the ward. Regular reporting to the court or other relevant authorities is also critical to maintain oversight and accountability.

This ensures that the ward’s financial interests are protected and that the guardian is acting in the best interest of the ward. Proper accounting establishes trust and helps prevent misuse or mismanagement of the ward's funds, which is essential given the vulnerability of the individuals under guardianship. Maximizing financial growth is important, but it must be balanced with responsible management and fiduciary duties. Therefore, the obligation to ensure proper accounting and reporting is paramount in a guardian's role concerning their ward's finances.