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Bond: In order to be appointed guardian, a court will frequently require that a guardian acquire a form of insurance, known as a surety bond, to protect the assets of the ward in the event of financial mismanagement or theft.
Conservatorship: In many states, this term is synonymous with
guardianship. In New Jersey, it is utilized as a protective arrangement for individuals who are not mentally incapacitated but are frail and do not feel that a power of attorney can protect their interests. It is important to note that a conservatorship only provides for property management. It does not allow for decision making as to an
individuals personal or medical needs.
Court Appointed Representative: When a petition for guardianship is filed, the court must feel satisfied that the proposed ward is indeed mentally incapacitated and that the proposed guardian is the individual best suited to act on behalf of the proposed ward. As such, an attorney is always appointed to represent the proposed ward to advocate their interests.
Guardian: An individual given the responsibility to manage the personal, medical and/or financial affairs of an individual. An appointment can be made in which the personal and financial affairs are managed by a guardian of the person and the financial affairs are managed by a guardian of the property.
Guardianship: A guardianship is a protective arrangement covering the personal, medical and financial well being of a minor or a mentally incapacitated adult.
Return Date: In order to establish a guardianship, pleadings are filed with the Surrogate in the county in which the adult incapacitated person is a resident. The return date is the day on which the court will hold a hearing to establish a guardianship.
Surrogate: The office of each
county's surrogate is charged with the responsibility of overseeing the establishment of a guardianship and to monitor guardians after their appointments to ensure that they are properly carrying out their duties. Prior to appointment, the Surrogate handles the filing of the petition for guardianship and all related court papers. After appointment, the Surrogate monitors guardians by requiring periodic filing of an inventory of the
wards estate and annual accounts or reports as to the wards well-being.
Ward: an individual whose personal, medical and financial decisions are made by a third-party, namely a guardian. In the case of a minor, these decisions are made because the minor has not yet attained the age of majority (18). In the case of an adult, these decisions are made because the individual was either born with a developmental disability or due to the result of becoming mentally incapacitated after becoming an adult. |
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