New Jersey Statutes 3B:12-45. Other factors to be considered by guardian of ward’s estate in making expenditures
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 3B:12-45
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
- 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: means a person who has qualified as a guardian of the person or estate of a minor or incapacitated individual pursuant to testamentary or court appointment, but excludes one who is merely a guardian ad litem. See New Jersey Statutes 3B:1-1
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
3B:12-45. Other factors to be considered by guardian of ward’s estate in making expenditures.
In making expenditures under N.J.S.3B:12-43, the guardian of the estate of a minor or incapacitated person shall expend or distribute sums reasonably necessary for the support, education, care or benefit of the ward with due regard to:
a. The size of the ward’s estate;
b. The probable duration of the guardianship and the likelihood that the ward, at some future time, may be fully able to manage his
affairs and the estate which has been conserved for him; and
c. The accustomed standard of living of the ward and members of the ward’s household.
Amended 2005, c.304, s.32.