It is important to understand that a guardian or a conservator is legally obligated to work in the best interest of their wards. A guardian is responsible for taking care of the ward’s legal, health, and property matters, making the right decisions on their behalf. Conservators, on the other hand, are legally mandated to overlook the financial affairs of an incapacitated elder ward or a minor. Conservators are given complete autonomy over the disabled ward’s finances, health decisions, property, and other matters.
Looking at Typical Breaches of Trust and Fiduciary Responsibilities
As a conservator, spending your ward’s finances on fulfilling your personal expenses is a breach of duty. Similarly, failing to maintain adequate accounts of the ward’s finances is also a breach of trust. In addition, neglecting to pay the ward’s bills and other expenses is also a breach of trust.
As a guardian, neglecting to take care of the incapacitated ward properly or as guided by the court can be seen as a breach of duty. Similarly, exploitation of the ward’s mental capacity or physical/emotional abuse is also considered as a breach of fiduciary responsibility and are all punishable offenses.
Reporting the OffensesÂ
In case of physical or emotional abuse, it is important for either the ward or their family members to gather evidence of abuse and immediately contact the local authorities. They can also petition in the probate court to remove the guardian or conservator, pending criminal investigation.
Questions about your estate plan?
Every situation is different. If you have questions about how Virginia law applies to yours, contact the Law Office of Miles Franklin to schedule a consultation.
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