Tony Anamourlis and Grant Abbott from Abbott and Mourly Lawyers providing Guardianship advice to a young mother
I. What is Guardianship
Guardianship is a legal framework where a designated individual, the Guardian, is given the responsibility to care for another person (legally known as the ward) because they are unable to manage their own affairs due to age, disability, or incapacity. The Guardian is entrusted with the duty to make decisions in the best interest of the ward, ensuring their well-being, safety, and financial security. The Guardian is also a concept used in SMSFs and Trusts such as Family Protection Trusts and Special Disability Trusts where the Guardian or in some cases a Board of Guardians is appointed to look after one or more beneficiaries of the SMSF or Trust due to poor financial skills, addiction, age, disability, or incapacity
II. Five Responsibilities of a Guardian
Personal Care: Guardians ensure that the ward's day-to-day personal needs are met, including healthcare, hygiene, and nutrition.
Financial Management: Guardians manage the ward's or beneficiary's finances, paying bills, managing investments, and ensuring that the ward's or the SMSF or Trust's financial resources are used appropriately for their benefit.
Legal Decisions: Guardians make legal decisions on behalf of the ward, which might include signing contracts or handling legal matters.
Living Arrangements: Guardians determine where the ward lives, whether it's in their own home, with family, or in a care facility that best suits their needs.
Advocacy: Guardians act as advocates for the ward, ensuring their rights and needs are represented in various settings, including medical, educational, and social services.
Guardianship for Young Children
Scenario: After the sudden death of their parents, two young children are taken in by their uncle, John. As their legal guardian, John integrates the children into his family, providing them with a stable home environment, enrolling them in school, and ensuring they receive counselling to cope with their loss. John manages the inheritance left by their parents in a Family Protection Trust, using it to secure their future.
Guardianship for an Autistic Adult
Scenario: When Mary, the mother of a 25-year-old autistic son named Tom, passes away, Tom's siblings' step in as his guardians. They ensure Tom's daily routine remains consistent, coordinate with healthcare providers, and manage a special disability trust set up by their mother. This trust provides for Tom's long-term care and financial stability.
Guardian in a Family Protection Trust
Scenario: Sarah, a mother, sets up a Family Protection Trust to ensure her son, Mike, who has a drug addiction, is taken care of after her passing. The appointed guardian, David, oversees Mike's treatment and rehabilitation efforts, manages the trust funds to prevent misuse, and makes decisions about Mike's welfare and financial needs to ensure his safety and well-being.
IV. Five Benefits of Having a Guardian
Protection and Stability: Guardians provide a stable environment and consistent care, crucial for vulnerable individuals.
Financial Security: Guardians manage the ward's or beneficiary's finances responsibly, protecting assets and ensuring funds are used appropriately.
Legal Advocacy: Guardians make informed legal decisions, protecting the ward's rights and interests.
Health Management: Guardians coordinate medical care and ensure that the ward receives necessary health services.
Personalized Care: Guardians tailor care to meet the specific needs of the ward, enhancing their quality of life.
V. Checklist for a Good Guardian
Trustworthiness: Demonstrates honesty and integrity.
Compassion: Shows empathy and concern for the ward's well-being.
Responsibility: Capable of managing finances and making sound decisions.
Communication Skills: Able to effectively communicate with healthcare providers, legal professionals, and family members.
Commitment: Willing to dedicate the necessary time and effort to fulfill guardian responsibilities.
Note: For Trusts and SMSFs the Succession, Asset Protection and Estate Planning Association provide accredited persons to act on a Board of Guardians. Accredited Guardians have met the highest standard of ethical decision making.
VI. When to Get Guardians Ready
It is crucial to establish guardianships as part of comprehensive estate planning, especially when there are minor children, disabled adults, or individuals with special needs involved. Proactively setting up guardianships ensures that, in the event of incapacitation or death, the designated guardians can immediately step in without legal delays or confusion.
For expert guidance and assistance in establishing guardianships in Wills, Trusts, SMSFs, and companies, contact Abbott and Mourly Lawyers. Our team specialises in providing tailored solutions to protect your family's future.
Contact Us
Phone: +61 1300 910 012
Email: grant@abbottmourly.com.au
Website: www.abbottmourly.com.au
Ensure your loved ones are protected with the right guardianship arrangements. Reach out to Abbott and Mourly Lawyers today for a consultation.
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