BackSo What Exactly is a Guardian, Conservator, or a Fiduciary???
Article submitted by Kelly Saunders of Guardian & Conservatorship Services. He can be reached at 801-281-1100.
Helpful Terminology:
Capacity – Ability to understand the nature and effects of one's acts.
Decisional Capacity – Ability to understand and appreciate the nature and consequences of a decision, to reach and communicate an informed decision on the matter.
Dementia – A category of disorders characterized by the development of multiple cognitive deficits (including memory impairment) that are due to the direct physical effects of a general medical condition.
Fiduciary – An individual, agency, or organization that has agreed to undertake for another a special obligation of trust and confidence. Having the duty to act primarily for another's benefit and subject to the standard of care imposed by law or contract.
Guardian – An individual or organization named by order of the court to exercise any or all powers and rights over the person and/or estate of an individual.
Conservator – An individual or organization who possesses any or all powers and rights with regard to the property of the individual.
Letter of Office – Formal document issues by the court containing or attesting the grant of some power of authority or right.
Petition – A formal, written application to a court requesting judicial action on a certain matter. For example, relative to guardianship or conservatorship, the document filed to initiate the process for adjudication of disability and appointment of a guardian.
Protected Person – A person for whom a guardianship/conservatorship has been appointed. Also called the “Ward”.