54.20 Powers of guardian of the estate.

311 words·~1 min read·/wi/chapter-54/54-20

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Standard. In exercising the powers under this section, the guardian of the estate shall use the judgment and care that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, including the permanent, rather than speculative, disposition of their funds and consideration of the probable income and safety of their capital. In addition, in exercising powers and duties under this section, the guardian of the estate shall consider, consistent with the functional limitations of the ward, all of the following:

(a)The ward’s understanding of the harm that he or she is likely to suffer as the result of his or her inability to manage property and financial affairs.

(b)The ward’s personal preferences and desires with regard to managing his or her activities of daily living.

(c)The least restrictive form of intervention for the ward.

(2)Powers requiring court approval. The guardian of the estate may do any of the following with respect to the ward’s income and assets only with the court’s prior written approval following any petition and upon any notice and hearing that the court requires:

(a)Make gifts, under the terms, including the frequency, amount, and donees specified by the court in approval of a petition under s. 54.21 .

(b)Transfer assets of the ward to the trustee of any existing revocable living trust that the ward has created for himself or herself and any dependents, or, if the ward is a minor, to the trustee of any trust created for the exclusive benefit of the ward that distributes to him or her at age 18 or 21, or, if the ward dies before age 18 or 21, to his or her estate, or as the ward has appointed by a written instrument that is executed after the ward attains age 14.