Guardianship is a powerful legal duty: it entrusts someone to make decisions for a loved one who cannot do so themselves. In Texas, guardians must strictly follow legal standards to protect the ward’s safety, finances, and rights. If you're serving or considering becoming a guardian in Prosper (Collin County), it’s vital to understand your obligations.

1. Acting with Fiduciary Duty: Always the Ward’s Best Interest

A guardian must always prioritize the ward’s best interests, acting with honesty, loyalty, and prudence. Whether appointed as guardian of the person, guardian of the estate, or both, you carry a fiduciary duty—a high ethical and legal responsibility—to manage affairs on behalf of the ward.

• Guardian of the Person: Provide necessary care—housing, supervision, medical treatment, nutrition, and emotional support—while encouraging independence where possible.

• Guardian of the Estate: Manage finances prudently—securing assets, avoiding conflicts of interest, and separating ward funds from your own.

2. Record-Keeping & Financial Oversight

As guardian of the estate, meticulous documentation is non-negotiable:

• Maintain separate – clearly labeled bank accounts for the ward to prevent commingling.

• Keep detailed financial records—receipts, statements, ledger entries—so you can account for all transactions.

• Secure and insure ward property and, when necessary, commission appraisals.

3. Annual Reporting & Court Oversight

Texas law requires yearly oversight to maintain transparency:

• Guardians of the Person must file an annual report detailing the ward’s health, living conditions, and well-being.

• Guardians of the Estate must submit a formal annual accounting—including income, expenses, asset changes, and balances.

• These filings are generally due on the anniversary of the appointment and must be accurate, complete, and often notarized.

Failing to file or filing late may result in court sanctions, hearings, or even removal as guardian.

4. Court Monitoring & Ongoing Oversight

Guardians operate within a court-supervised framework:

• Courts may conduct audits and file reviews to ensure guardians fulfill their duties.

• Specific actions (like transferring real estate) often require prior court approval.

• Guardians must report major life changes—like a change in residence, hospitalization, or the ward’s death.

A Guardian ad Litem (GAL), appointed during proceedings, advocates for the ward’s interests and ensures standards are met.

5. Consequences of Non-Compliance

Failing to meet your duties has serious repercussions:

• Removal as guardian—even with civil or criminal liability.

• Financial penalties or sanctions from the court.

• Legal liability for breach of fiduciary duty or mismanagement.

Compliance isn’t optional—it’s your duty.

Summary Table: Guardian Responsibilities in Texas