Guardianship accounts
Manage a guardianship with confidence
Learn more about guardianship bank accounts at Chase
What is a guardianship?
A guardianship is a legal arrangement where someone is appointed to take care of another person who can't manage their own affairs. This might also be called a conservatorship. There are two types: guardian of the estate, who manages money and property, and guardian of the person, who takes care of personal needs like health and living arrangements.
What is a guardianship bank account?
A guardianship bank account is a special account used to manage the money and assets of a ward. This account is set up by the guardian to keep the ward's finances separate from personal accounts. It's used to pay for the ward's needs and manage their money according to court rules. The court watches over the account to make sure everything is done right and may limit access to stop any unauthorized withdrawals.
Opening a guardianship bank account
To open a guardianship bank account, you will need your guardianship documents and IDs, and then schedule a meeting with a banker at a Chase branch.
Required guardianship documents
To get started, you should bring any court documents, as well as other applicable documents.
Guardianship document examples
Court documents
Other document examples (if applicable)
State-required documents
Required identification
All guardians or conservators will need primary and secondary IDs that confirm their current U.S. residential address.
All ID requirements (PDF) are subject to change based on account or customer information. Please contact your local branch for additional ID requirements.
U.S. citizens
Primary ID examples
- Driver's license
- State ID
- U.S. Passport
Secondary ID examples
- Credit or debit card
- Bank statement
- Recent pay stub or utility bill in your name
Non-U.S. citizens
Primary ID examples
- Passport with photo
- U.S. Employment authorization card
- Matricula consular card
Secondary ID examples
- Driver's license
- Bank statement
- Recent pay stub or utility bill in your name
Schedule a meeting with a Chase banker
After you've gathered your documents, you will need to schedule a meeting with a banker to open or service your guardianship bank account. All guardians or conservators may need to be present at the meeting. If you are a client of JPMorgan Chase Private Client, please reach out to your Relationship Manager or Senior Private Client Banker to open a guardianship bank account. You may have to visit a Chase branch more than once. Requirements may vary by state.
FAQs
A guardianship is a legal arrangement where someone is appointed to take care of another person who can't manage their own affairs. This might also be called a conservatorship. There are two types: guardian of the estate, who manages money and property, and guardian of the person, who takes care of personal needs like health and living arrangements.
A ward is the person who needs help from a guardian. This can be an elderly person, a minor (someone under 18), or someone who is incapacitated and can't make decisions for themselves.
A guardian, sometimes called a conservator, is the person picked to look after someone who needs help, known as a ward. The guardian makes choices about the ward's money, property, and personal care, depending on whether they are a guardian of the estate or a guardian of the person. They can also gather the ward's assets and open a guardianship account to manage the ward's finances.
A temporary guardian is appointed for a short time to take care of a ward. They generally have the same powers as a full guardian but are only in charge until a permanent guardian is appointed or the situation changes. Like a guardian, a temporary guardian is also able to gather the ward's assets and open a guardianship account to manage the ward's finances.
A guardianship bank account is a special account used to manage the money and assets of a ward. This account is set up by the guardian to keep the ward's finances separate from personal accounts. It's used to pay for the ward's needs and manage their money according to court rules. The court watches over the account to make sure everything is done right and may limit access to stop any unauthorized withdrawals.
A court-controlled account is an account overseen by the court, usually set up to hold funds for a minor child. The court makes sure the money is used properly for the child's benefit. The court watches over the account to make sure everything is done right and may limit access to stop any unauthorized withdrawals.
A guardianship account or court-controlled account can be opened by the court-appointed guardian or conservator. This person is officially chosen by the court to manage the ward's affairs.. To open the account, they need to bring court documents which prove their authority to handle the ward’s estate. These documents might be called something different depending on the state or country. An agent with a power of attorney cannot open a guardianship or court-controlled account.
After you've gathered your documents, you will need to schedule an in-person meeting with a banker to open or service a guardianship account. At this time you cannot open a guardianship account online.
A guardianship is a legal arrangement in which a court appoints someone to make decisions for a person who is unable to manage their own affairs. In contrast, a power of attorney (POA) is a legal document that allows an individual to choose someone to act on their behalf while they still have decision making capacity. Guardianship is established by the court when a person cannot make decisions, whereas a POA is set up voluntarily.