Duty 3: Keep Martin’s money and property separate

Never mix Martin’s money or property with your own or someone else’s. Mixing money or property makes it unclear who owns what. Confusing records can get you in trouble with the court.

Follow these guidelines:

  • Separate means separate. Never deposit Martin’s money or property into your own or someone else’s bank account or investment account.
  • Avoid joint accounts. If Martin already has money or property in a joint account with you or someone else, get legal advice before making any change.
  • Keep title to Martin’s money and property in his own name. This is so other people can see right away that the money and property is Martin’s and not yours. Ask the bank for a guardianship or fiduciary account that shows you are managing the account for Martin.
  • Know how to sign as guardian. Sign all checks and other documents relating to Martin’s money or property to show that you are Martin’s guardian. For example, you might sign: “Juan Doe, as guardian for Martin Roe.” Never just sign “Martin Roe.”
  • Pay Martin’s expenses from his funds, not yours. Spending your money and then paying yourself back makes it hard to keep good records. If you really need to use your money, save receipts for the expense and keep a good record of why, what, and when you paid yourself. You will have to submit the expenses to the court for approval before being reimbursed.