Which of the following tools can help assess the financial planning needs of a guardian?

Choosing life expectancy charts or tables as a tool to assess the financial planning needs of a guardian is a sound choice due to their role in informing long-term financial strategies. These charts provide valuable information regarding the average life spans of individuals based on various factors, which can significantly impact the financial planning process. By understanding the potential duration of care needed, guardians can better estimate expenses related to healthcare, living arrangements, and other long-term needs of the individual they are responsible for.

Effective financial planning for guardianship involves anticipating future costs and ensuring there are adequate resources to cover those costs over the individual's expected lifetime. Life expectancy charts allow guardians to project potential future expenses more precisely, which is essential for managing the guardian's resources adequately. This foresight aids in creating a sustainable financial plan that accommodates both the immediate and long-term needs of the person under guardianship.

While other options, such as budgeting spreadsheets and insurance policy documents, are useful tools in a guardian's financial strategy, they serve more specific and immediate functions rather than providing a broad understanding of the time horizon for financial needs. Investment prospectuses, similarly, are valuable for understanding potential investment options but do not directly address the overarching financial planning related to lifespan and future care needs. Therefore, life expectancy charts and tables