Guardians Acknowledgment Of Duties And Responsibilities Of The Estate Adult

251 2018 Nevada Supreme Court Page 1 of 9 226 Guardian222s Acknowledgment (Adult 226 Estate) COURT CODE: Your Name: Address: City, State, Zip: Phone: Email: Self-Represented DISTRICT COURT COUNTY, NEVADA In the Matter of the Guardianship of the: Estate Person and Estate of: (name of person who has a guardian) An Adult Protected Person. CASE NO.: DEPT: GUARDIAN222S ACKNOWLEDGMENT OF DUTIES AND RESPONSIBILITIES OF A GUARDIAN OF THE ESTATE (ADULT) I hereby declare that I understand there are certain duties and responsibilities required of me in the administration of the above guardianship. By initialing each item below I understand my guardianship duties and responsibilities include, but are not limited to the following: A.Duties and FunctionsI acknowledge and understand that the duties and functions of a guardian are as follows: To protect, preserve, and manage the income, assets, and estate of the Protected Personand utilize the income, assets, and estate of the Protected Person solely for the benefit of the Protected Person. To protect, preserve, manage, and dispose of the estate of the Protected Person according to law and for the best interests of the Protected Person. American LegalNet, Inc. www.FormsWorkFlow.com 251 2018 Nevada Supreme Court Page 2 of 9 226 Guardian222s Acknowledgment (Adult 226 Estate) To apply the estate of the Protected Person for the proper care, maintenance, education, and support of the Protected Person, and any person to whom the Protected Person has a legal obligation to support. To have due regard for other income or property available to support the Protected Person and any person to whom the Protected Person has a legal obligation to support. To have such other authority and perform such other duties as are provided by law. To maintain the Protected Person222s assets in the name of the Protected Person or the guardianship. To notify all interested parties, the Court, the trustee, and named executor or appointed personal representative of the estate of the Protected Person within 30 days after the death of the Protected Person. B. Investing and Managing Protected Person222s Estate I acknowledge and understand that the following rules govern the manner in which the Protected Person222s separate property shall be managed and invested: Unless I am the spouse of the Protected Person, I may not utilize any guardianship funds for my personal benefit or commingle guardianship funds with my own funds. I may, without prior approval of the Court, invest the Protected Person222s property in any (1) bank credit union, or savings and loan institution in the State of Nevada to the extent that the deposits are insured by the Federal Deposit Insurance Corporation, National Credit Union Share Insurance Fund, or a private insurer; (2) interest bearing obligations of or fully guaranteed by the United States, the United States Postal Service, or Federal National Mortgage Association; (3) interest bearing general obligations of this state or any county, city, or school district in the State of Nevada; (4) or any money market mutual funds which are invested only in those instruments described in this paragraph. American LegalNet, Inc. www.FormsWorkFlow.com 251 2018 Nevada Supreme Court Page 3 of 9 226 Guardian222s Acknowledgment (Adult 226 Estate) C. Court Authority I acknowledge and understand that court authority must be obtained prior to: Investing property of the Protected Person. Continuing the business of the Protected Person. Borrowing money for the Protected Person. Entering into contracts for the Protected Person or complete the performance of contracts of the Protected Person. Making gifts from the Protected Person222s estate or making expenditures for the Protected Person222s relatives. Selling, leasing, or placing in a trust, any property of the Protected Person. Exchanging or partitioning the Protected Person222s property. Releasing the power of the Protected Person as trustee, personal representative or custodian for a minor or guardian. Exercising or releasing the power of the Protected Person as a donee of a power of appointment. Exercising the right of the Protected Person to take under or against a will. Transferring to a trust created by the Protected Person, any property unintentionally omitted from the trust. Submitting a trust to the jurisdiction of the Court if the Protected Person is a beneficiary of the income of the trust, or the trust was created by the Court. Paying any claim by the Department of Health and Human Services to recover benefits for Medicaid correctly paid to or on the behalf of the Protected Person. Transferring money in a Protected Person222s account to the Nevada Higher Education American LegalNet, Inc. www.FormsWorkFlow.com 251 2018 Nevada Supreme Court Page 4 of 9 226 Guardian222s Acknowledgment (Adult 226 Estate) Prepaid Tuition Trust Fund created in accordance with NRS 353B.140. To take any other action which the guardian deems would be in the best interests of the Protected Person, without having prior consent from this Court. D. Selling Property of the Protected Person 1. I acknowledge and understand that all sales of real property of the Protected Person must: Only occur after the Court grants authority for the sale. Be confirmed by the Court prior to finalizing the sale with the prospective buyer. 2. I acknowledge and understand that I must provide written notice to the Protected Person, his/her attorney, and the persons specified in NRS 159.034 of my intent to sell personal property of the Protected Person that has a total value of less than $10,000.00 UNLESS: The property is a threat to public health or safety. The property is contaminated, and salvage is impractical. The handling or storage of property might endanger public health or safety. 3. I acknowledge and understand that if I intend to sell personal property of the Protected Person that has a total value above $10,000.00 I must: Publish notice of intended sale. Provide written notice to the individuals entitled to notice, including the Protected Person and his or her family members. 4. I acknowledge and understand that I am responsible for the actual value of all personal property of the Protected Person sold unless: I make a report to the Court within 90 days of the sale. 5. I acknowledge and understand that I may sell any security of the Protected Person if: I petition the Court for confirmation of the sale. American LegalNet, Inc. www.FormsWorkFlow.com 251 2018 Nevada Supreme Court Page 5 of 9 226 Guardian222s Acknowledgment (Adult 226 Estate) The Court confirms the sale. 6. I acknowledge and understand that: I shall record all certified copies of any court order authorizing the sale, mortgage, lease, surrender, or conveyance of real property in the county recorder222s office in which any portion of the land is located. I am to carry out effectively any transactions affecting the Protected Person222s property as authorized by NRS 159. The Court may authorize me to execute any promissory note, mortgage, deed of trust, deed, lease, security agreement, or other legal document or instrument which is reasonably necessary to carry out such transaction. E. Notices and Reports I acknowledge and understand that in addition to the performance of the duties outlined above, the following will be required of me: Within 5 days of being appointed guardian, a Notice of Entry of Order Appointing Guardian must be filed and mailed to the Protected Person and all individuals entitled to notice. Within 60 days of being appointed guardian of the estate, an Inventory, Appraisal, and Report of Value must be filed with the Court for all known property of the Protected Person. Within 30 days of discovering property not mentioned in the initial inventory, an amended inventory must be filed with the Court. Within 60 days of being appointed guardian of the estate, a certified copy of the Letters of Guardianship must be recorded in the county recorder222s office of any county where the Protected Person possesses real property. American LegalNet, Inc. www.FormsWorkFlow.com 251 2018 Nevada Supreme Court Page 6 of 9 226 Guardian222s Acknowledgmen