Guardians are appointed to manage the property of persons who are unable to manage the property for themselves. Typically, the court appoints a guardian for persons who are either mentally incapacitated or are minors. The persons for whom guardians are appointed by the court are called “wards”. In many cases, the everyday oversight of the ward’s funds will be the guardian’s responsibility. The guardian is required to use reasonable care when handling the financial resources of the ward. It is the responsibility of the guardian to file annual accounting forms. These forms explain a detailed accounting of how the ward’s assets have been bought, sold, invested, and spent on behalf of the ward during the year.