Delaware Code Title 12 Sec. 3923 – Powers of the guardian of the property
(a) The Court may limit the power of the guardian of the property as conferred on the guardian herein, or may confer any additional power which the Court itself could exercise under § 3901 of this title.
Terms Used In Delaware Code Title 12 Sec. 3923
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Dependent: A person dependent for support upon another.
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: is a "guardian of the person" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Personal property: All property that is not real property.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
(b) The Court may, at the time of the appointment of the guardian of the property, or later, transfer custodial control over all the estate of the person with a disability to such guardian or the Court may transfer only certain specified assets of the estate of the person with a disability to the guardian of the property for protection.
(c) Unless restricted by the Court, a guardian of the property has power without Court authority or confirmation to invest and reinvest personal property of the estate as provided by Chapter 33 of this title governing fiduciary relationships.
(d) Except as modified by the order of guardianship, the guardian of the property may act without Court authorization or confirmation to reasonably accomplish the purpose for which the guardian is appointed to:
(1) Collect, hold and retain assets in the estate until, in the guardian’s judgment, disposition of the assets should be made. Assets may be retained even though they include an asset in which the guardian is personally interested;
(2) Receive additions to the estate;
(3) Invest and reinvest estate assets in accordance with subsection (c) of this section;
(4) Deposit estate funds in a bank, including a bank operated by the guardian of the property;
(5) Sell or exercise stock, subscription or conversion rights or consent directly or through a committee or other agent to the reorganization, consolidation, merger, dissolution or liquidation of a corporation or other business enterprise;
(6) Vote directly or by proxy in any election or stockholder’s meeting any share of stock in the estate including power to vote shares issued by the guardian of the property;
(7) Insure the assets of the estate against damage or loss and the guardian against liability with respect to third persons;
(8) Pay taxes, assessments, compensation of the guardian and other expenses incurred in the collection, care, administration and protection of the estate;
(9) Make payment for ordinary repairs to a dwelling owned by the person with a disability and to the furniture and appliances therein;
(10) Allocate items of income or expenses to either estate income or principal as provided by law;
(11) Prosecute, defend, compromise or settle actions, claims or proceedings in any jurisdiction for the protection of estate assets;
(12) Execute and deliver all instruments which will accomplish or facilitate the exercise of powers vested in the guardian;
(13) Hold a security in the name of the nominee or other forms without disclosure of guardianships so that title to the security may pass by delivery, but the guardian is liable for any acts of the nominee in connection with the stock so held; and
(14) Exercise all rights and powers granted to a fiduciary under the Fiduciary Access to Digital Assets and Accounts Act, Chapter 50 of this title.
(e) The guardian of the property may, without court authorization or confirmation, pay or apply income or principal from the estate as needed for the clothing, support, care, protection, welfare and rehabilitation of the person with a disability, as requested by the person with a disability or the guardian of the person, if any. In exercising this power, the guardian of the property shall consider the cost of support and care of the person with a disability for the expected life of the person with a disability and the needs of any persons dependent upon the person with a disability as may be reasonably anticipated.
(f) The guardian of the property shall not be required to expend the guardian’s own money for the support or care of the property or person.
Code 1852, §§ ?1499, 1500, 1976, 1977; Code 1915, §§ ?3099, 3100, 3925; Code 1935, §§ ?3589, 3590, 4433; 45 Del. Laws, c. 243, § ?1; 12 Del. C. 1953, §§ ?3923, 3927, 3928; 56 Del. Laws, c. 320; 57 Del. Laws, c. 402, § ?3; 69 Del. Laws, c. 109, § ?2; 70 Del Laws, c. 186,, § ?1; 78 Del. Laws, c. 179, § ?101; 79 Del. Laws, c. 416, § ?3;