National Guardianship Association (NGA) Fundamentals Practice Test

Guardians have a fiduciary duty to protect and wisely manage the ward’s money and property for the ward’s benefit. The focus is on prudent stewardship, keeping assets safe, and using them in the ward’s best interests, with careful record-keeping and regular reporting to the court. This accountability helps ensure funds are available for the ward’s current and future needs and prevents waste or mismanagement.

Maximizing investments regardless of risk isn’t appropriate because it could expose the ward’s resources to unacceptable loss. Delegating all decisions to a guardian ad litem isn’t correct because the guardian retains responsibility for financial decisions and must exercise due care, often with judicial oversight. Protecting only personal safety ignores the financial aspect of guardianship, which includes safeguarding and managing financial resources as well.