In the context of estate planning, what does a guardian have the responsibility to preserve?

In estate planning, a guardian has the responsibility to preserve designated property. This refers to specific assets or resources assigned to the guardian’s care, which can include real estate, financial accounts, or other valuable items that belong to the individual under guardianship. The guardian is tasked with managing these assets in a manner that maintains their value and ensures they are used appropriately according to the wishes of the individual or in accordance with legal requirements.

Designated property may have specific instructions associated with it, which may include how it is to be maintained or distributed after the individual's passing. The guardian must act in a fiduciary capacity, prioritizing the best interests of the person they are appointed to assist, ensuring that their assets are preserved and managed diligently.

In contrast, future investments and oral agreements might not be explicitly within the guardian's purview. Personal belongings may be part of the care provided, but the broader responsibility of a guardian tends to focus on the designated property as a whole. This distinction clarifies the specific nature of the guardian's role in protecting and managing significant assets.