Whenever a Probate Court appoints a plenary guardian or limited guardian, such court may appoint a standby plenary guardian or a standby limited guardian. Such standby shall act if the appointed plenary guardian or limited guardian dies, becomes incapable, or renounces his or her plenary guardianship or limited guardianship. The standby plenary guardian or standby limited guardian shall immediately inform the Probate Court which has jurisdiction over such guardianship of his or her assumption of the guardianship and the reason therefor. The standby guardian, in the event of the guardian’s death, incapacity or renunciation, shall, upon furnishing a probate bond if such a bond had been required from the plenary guardian or limited guardian whose duties are being assumed, but without further proceedings, be empowered to assume the duties of his or her office immediately upon the death or adjudication of incompetency of the plenary guardian or limited guardian, subject only to confirmation of his or her appointment by the Probate Court within sixty days following assumption of his or her duties of office.