When someone cannot take care of themselves or make decisions, a guardian can be appointed by the court. Usually, someone starts a guardianship proceeding by requesting that they, or someone else, be named the guardian. When a petition is made, family members must be notified, and anyone can volunteer.
After an adjudication phase determines whether or not a person needs a guardian, the court must decide who is most qualified for the role. The court will often choose family members as Guardians, but there are guidelines to determine if someone qualifies.
Certain guidelines must be met to be appointed as a guardian in a legal case. One of these is whether or not the party has ever been convicted of a felony or a crime involving moral turpitude. (Moral turpitude refers to a dishonest crime.) Another guideline is whether or not the party can be bonded, meaning if they can get insurance coverage in case they ever steal from the ward’s finances.
When insurance companies are determining whether or not to provide coverage, they take into account credit scores and assets just as if the policy were for any other type of asset. This helps them evaluate the risk involved in insuring an individual.