Thursday, July 16, 2015

Careful and Diligent

Wes was an extremely successful businessman before his untimely mountain climbing accident disabled many of his mental abilities.  After his daughter Meg was appointed his guardian by the court, she discovered that he’d been a financial wizard too. 

His records were scattered and disorganized, but he has a lot of money tucked in several stocks, bonds and real estate, along with his regular bank accounts.  Meg realizes that it will be hard to keep up. How can she be sure she is making the best investments and maximum returns?

Plus, Meg knows that the court will scrutinize her periodic guardianship reports.  The court will measure her performance by checking whether she is being as careful and diligent as “a good and conscientious business person” would be about her own affairs under like circumstances.

 She can ask for help from professionals or do it on her own, but she must make her decisions as responsibly as a good and conscientious business person.

Estate planning can help keep things organized to enable any future guardian to ‘hit the ground running’ and make better investment decisions for your situation.  For help planning protection for your family’s future, call our office at (815) 436-1996 for an appointment.

© 2015 Gruber Law Office

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