As a guardian or conservator in Oregon, you have a legal responsibility to act in the best interests of the person you are representing. This is known as a fiduciary duty. In this post, we’ll discuss the specific responsibilities and obligations that come with this role and how to fulfill your fiduciary duty in Oregon.
As a guardian or conservator, you have been appointed by the court to manage the personal and/or financial affairs of another person, often referred to as the “ward.” This is a serious responsibility that comes with certain obligations and duties.
One of the most important duties you have as a guardian or conservator is to act in the best interests of the ward at all times. This is known as a fiduciary duty. This means that you must prioritize the needs, wishes, and well-being of the ward above your own interests.
To fulfill your fiduciary duty, you’ll need to make decisions that are in the best interests of the ward and manage their assets and affairs responsibly. This may include making decisions about their healthcare, living arrangements, and financial matters.
It’s important to keep in mind that as a guardian or conservator, you are accountable to the court and may be required to report on your actions and decisions. If the court finds that you have not fulfilled your fiduciary duty, you may face consequences such as removal from your role or financial penalties.
If you have any questions about your fiduciary duty as a guardian or conservator in Oregon, you should speak with an experienced estate planning or elder law attorney. They can provide guidance and help you understand your responsibilities and obligations.
At Soriano Law, we can explain the guardianship and conservatorship process and help you understand your fiduciary duties. Call us today to learn more!