A Guardian is a fiduciary, and as such a Guardian owes fiduciary duties to the ward. Florida’s Guardianship Statutes protect the ward from a Guardian’s abuse of the fiduciary relationship by requiring express Court approval before a Guardian can take certain actions, including performing contracts on behalf of the ward; abandoning property of the ward; borrowing money to protect guardianship assets; and other acts specifically enumerated in Section 744.441 of the Florida Statutes.
Section 744.446 of the Florida Statutes prohibits the Guardian from abusing the fiduciary relationship for his or her own personal gain. Unless previously approved by the Court, a Guardian may not have any interest, financial or otherwise, in any business transaction or activity with the guardianship. A Guardian may not acquire an ownership, possessory, security or other pecuniary interest adverse to the ward. A Guardian may not be the designated beneficiary of any life insurance policy, pension or account of the ward, unless such designation was validly made prior to the initiation of the guardianship. A Guardian may not purchase, rent, lease or sell any property of the guardianship to the guardian or any related person as set forth in Section 744.446(2)(d) of the Florida Statutes.
Any such actions taken that conflict with the ward constitute a breach of fiduciary duty, and may be voidable by the court. The Court is authorized to take any necessary actions to protect the ward and the ward’s assets when there has been a breach of fiduciary duty by the Guardian.