Subject to s. 54.18 (1) and except as specifically limited in the order of appointment, the guardian of the estate shall, following any applicable procedures of s. 54.22, do all of the following in order to provide a ward with the greatest amount of independence and self-determination with respect to property management in light of the ward’s functional level, understanding, and appreciation of his or her functional limitations and the ward’s personal wishes and preferences with regard to managing the activities of daily living:

   (1)   Take possession of the ward’s real and personal property, of any rents, income, and benefits accruing from the property, and of any proceeds arising from the sale, mortgage, lease, or exchange of the property, and prepare an inventory of these. Subject to this possession, the title of all the income and assets of the ward and the increment and proceeds of the income and assets of the ward remains vested in the ward and is not vested in the guardian.

   (2)   Retain, expend, distribute, sell, or invest the ward’s property, rents, income, benefits, and proceeds and account for all of them, subject to chs. 786 and 881.

   (3)   Determine, if the ward has executed a will, the will’s location, determine the appropriate persons to be notified in the event of the ward’s death, and, if the death occurs, notify those persons.

   (4)   Use the ward’s income and property to maintain and support the ward and any dependents of the ward.

   (5)   Prepare and file an annual account as specified in s. 54.62.

   (6)   At the termination of the guardianship, deliver the ward’s assets to the persons entitled to them.

   (7)   With respect to claims, pay the legally enforceable debts of the ward, including by filing tax returns and paying any taxes owed, from the ward’s estate and income and assets.

   (8)   File, with the register of deeds of any county in which the ward possesses real property of which the guardian has actual knowledge, a sworn and notarized statement that specifies the legal description of the property, the date that the ward is determined to be incompetent, and the name, address, and telephone number of the ward’s guardian and any surety on the guardian’s bond.

   (9)   For a ward who receives governmental benefits for which a representative payee is appropriate, if no representative payee is appointed, apply to be appointed the ward’s representative payee, or ensure that a representative payee is appointed.

   (10)   Perform any other duty required by the court order.