What should a guardian consider if an asset is specifically designated in the ward's will but must be sold to fund care?

When a guardian is faced with the need to sell an asset that is specifically designated in the ward's will, it is crucial to consider the intentions expressed by the ward regarding that asset. The will reflects the ward's wishes about how their property should be distributed upon death, particularly when it comes to beneficiaries of specific items.

Offering the beneficiary the first right of refusal is a practice that respects the ward’s intent while also addressing the necessity of funding care through the sale of the asset. By doing this, the guardian is providing an opportunity for the intended beneficiary to purchase the asset at a fair market value, thereby maintaining the asset within the family or designated circle, if the beneficiary wishes to do so. This approach honors the ward’s specific intentions documented in the will and helps to mitigate potential conflicts among beneficiaries who might feel aggrieved by the sale of an asset that was meant for them, fostering positive relationships and respect for the ward’s choices.

This method is typically a more ethical and considerate approach compared to other options that could disregard the expressed wishes of the ward or harm relationships among heirs. The guardian has a fiduciary duty to act in the best interests of the ward, which includes considering familial relationships and the overall implications of asset management.