clothing and be required to pay taxes. The only difference between the two of you is that you can handle these tasks on your own while the protected person requires your assistance to accomplish them.

Indiana Law specifically details the duties of the guardian. We now turn to an examination of that law.

A. BOND

In order to protect the protected person, every guardian must post a sufficient bond with the court before undertaking his duties. The amount of the bond is fixed at an amount equal to all of the protected person's personal property, plus the annual rental value of any real estate. While there is no exception to the bond requirement, there may be an alternative. If the protected person owns assets above and beyond those necessary to provide for his needs, you may petition the court for permission to place the excess funds in a restricted account. Typically, a restricted account is a Certificate of Deposit with the following words typed on the face of the document: "not to be cashed without order of Delaware Circuit Court No. ____". If the guardianship is over a minor, the following words may be added: "or upon protected person reaching the age of 18". Provided there exist no other reasons for requiring bond, the restricted funds will then be exempt from the bond requirement.

Finally, you may be wondering why the court may have required only a minimal bond upon your appointment. The reason is simple—neither the court nor you are yet fully aware of the extent of the protected person's assets. Upon your filing of an inventory, the bond may be adjusted accordingly.

B. INVENTORY

Indiana Law requires that every guardian of another persons' property file an inventory of that property within ninety (90) days of the date of his appointment. The inventory serves an important purpose: it apprises both you and the court of the extent of the protected person's property.

The inventory which you file must contain every item of the protected person's property which shall come to your possession or knowledge. The property must be classified as to its type (e.g., stocks, bank accounts, real estate) and, if encumbered by a mortgage or other lien, this fact must also be noted.

The fair market value of each item of the protected person's property must be indicated in the inventory. Many items, such as bank accounts, will pose no valuation problems. However, where there is reasonable doubt as to the value of property, the law permits the employment of a disinterested appraiser to assist in the valuation process. If an appraiser is employed, his name and address must be indicated on the inventory.