Wisconsin Statutes 54.72 – Guardian compensation and reimbursement
Current as of: 2023 | Check for updates
|
Other versions
A guardian of the person or a guardian of the estate is entitled to compensation and to reimbursement for expenses as follows:
Terms Used In Wisconsin Statutes 54.72
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
(1) Compensation.
(a) Subject to the court’s approval, as determined under par. (b), a guardian shall receive reasonable compensation for the guardian’s services.
(b) The court shall use all of the following factors in deciding whether compensation for a guardian is just and reasonable:
1. The reasonableness of the services rendered.
2. The fair market value of the services rendered.
3. Any conflict of interest of the guardian.
4. The availability of another to provide the services.
5. The value and nature of the ward’s assets and income, including the sources of the ward’s income.
6. Whether the ward’s basic needs are being met.
7. The hourly or other rate proposed by the guardian for the services.
(c) The amount of the compensation may be determined on an hourly basis, as a monthly stipend, or on any other basis that the court determines is reasonable under the circumstances. The court may establish the amount or basis for computing the guardian’s compensation at the time of the guardian’s initial appointment.
(2) Reimbursement of expenses. The guardian shall be reimbursed for the amount of the guardian’s reasonable expenses incurred in the execution of the guardian’s duties, including necessary compensation paid to an attorney, an accountant, a broker, and other agents or service providers.
(3) When court approval required. A court must approve compensation and reimbursement of expenses before payment to the guardian is made, but court approval need not be obtained before charges are incurred.