Estate planning is the most important and biggest part of your life. It’s safe to plan proper Guardianship for the care of your loving family. Here we will guide you on what is guardianship.
What is Guardianship?
Guardianship is the legal process that gives an individual the authority to take important decisions on matters with respect to the physical and mental well-being and financial affairs of a person you care for. A Guardian takes care of the following:
· Basic Needs like food, clothing, place of living
· Caring for Health, medical, comfort
· Deciding and providing Education, Vehicles
· Overall well-being of an Individual
So basically a Guardian is a person who looks after another person for the overall care and protection. Guardianship is important for the minor persons who have not attained the age of 18 years and the persons who are physically and mentally challenged. As these persons cannot take proper decisions for themselves and their decision cannot be binding on others as well.
It can be understood in two parts
1. Guardian of an individual: care and protection of persons
2. Guardian of an Estate: custody and management of finances and financial affairs
What is the Purpose of a Guardian?
A legal guardian plays the vital role of caretaker for the person under guardianship in the event you are not there to do the same yourself. The so-called event can be after your death, accident, or any other unavoidable circumstances when you become incapable to take care of your family either physically or mentally.
A big part of a guardian’s responsibilities is to take care of day to day requirements of your children and ensure the upbringing of the child. Guardian has to ensure education, food, health, religious training, and all other important aspects for the well-being and safety of child under guardianship. After you, the person as a guardian has to ensure the physical and emotional growth of the child.
Types of Guardians
In India, Shatras also talk about Guardianship for the development of children. The legitimate structure of Guardianship is pillared upon growth and care of the child. There are multiple types of guardians that you need to keep in mind while making decisions on Guardianship.
1. Natural Guardian: A person who takes care of the children by blood relations such as parents, grandparents, husband of married girls, and other nearness in blood relations.
2. Testamentary Guardian: A person appointed by a Natural guardian through a Will. Generally, it comes into the picture after the death of the natural guardian. Both the parents have the right to appoint this type of guardian for their minor children.
3. Legal Guardian: A person who is appointed by the Court for the protection and all-over care of the children. The legal guardian usually takes care of both i.e. the person and his property. The legal guardian remains under the strict supervision of the Court
4. De Facto Guardian: In the event when there is no legal guardian of a minor and any near relationship person himself takes the responsibility of taking care of the minor child, he becomes a bona fide de facto guardian.
5. Ad Hoc Guardian: A person acts as a guardian for a temporary period. He takes care of some specific things for particular purposes.
Types of Guardianship
There are three types of Guardianship. You can understand the types easily hereunder:
1. Full Guardianship: Comprehensive decision-making and full responsibility to own up overall physical and mental growth of the children.
2. Limited Guardianship: Limited decision-making over selected priorities like health, finance, education, and so on.
3. Joint Guardianship: Wherein more than one person involved in decision making and sharing the responsibilities regarding the protection of the children.
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