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What Does an NYC Guardian of the Property Do?

If a court determines that the ward is not well enough to manage property, that authority will be delegated to the guardian. The extent of that authority will depend on the ward’s capacity and on the extent of the ward’s property.

Basic Property Management Powers – the basic property management powers include making day-to-day transactions, such as paying the bills, collecting rents and making repairs.

Advanced Property Management Powers – for a ward that has more complicated property arrangements, a guardian can be granted further powers, such as managing investments, collecting rents and past due accounts, and even managing a business.

Engage in Medicaid and SSI Planning – Medicaid can go a long way to provide needed medical care, and SSI can make sure that the ward’s daily needs are provided for. Advanced planning is often required to make sure the ward qualifies for Medicaid and SSI and continues to receive it. The guardian can help the ward achieve and maintain Medicaid and SSI eligibility, with the advise of an attorney, using tools such as Special Needs Trusts and Pooled Trusts.

Prevent Financial Abuse – A guardian can prevent financial abuse from unscrupulous caregivers and family members of the ward.

Maintain a Lawsuit – A ward that does not have the ability to understand what a lawsuit means, or is unable to follow the details of a lawsuit and make decision will need a guardian or a guardian ad litem to participate in the lawsuit, in communicating with the attorneys involved and settlement or trial decisions.