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Does the patient lose all her finances to the guardian?

Updated: 8/17/2019
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If for some reason you find yourself needing the care of a court appointed guardian you should be assured that the guardian must act solely in your best interest. If you do not trust the person who has applied for that position you should make your concerns known to the court on the assent form that you will be asked to sign. The guardian should be someone you trust. Court appointed guardians are legally bound by state laws. Although the guardian has control over the incapable person's (the ward) property the guardian does not assume ownership of that property. They are only responsible for managing the property in the best possible manner. The guardian must keep the ward's finances completely separate from their own. The guardian should never borrow the ward's money unless specifically allowed by the court. The guardian is allowed a specific amount in payment for their services. The guardian must make expenditures in a specific order. Their first duty being the care and maintenance of the ward. Certain discretionary expenditures are allowed if there is enough money and if they are not out of the ordinary expenditures the ward would make herself. The guardian must not make expenditures that are expressly denied by the ward.

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Q: Does the patient lose all her finances to the guardian?
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