A guardian is someone who manages money for another person (called a ward) who cannot manage it themselves. The guardian can invest the ward's extra money, but usually needs the court's permission first. There is one exception: the guardian does not need court permission to invest in certain safe government bonds backed by the state or U.S. government. If the ward is a veteran, the guardian also has to send paperwork about the investment to the Veterans Administration office and let them know when the court hearing is.
475.440. Investment of funds. — Every shall invest the of his 's in such or property as under the laws of this state but only upon prior of the court; except that the funds may be invested, without prior , in direct interest-bearing obligations of this state or of the United States and in obligations the interest and of which are unconditionally guaranteed by the United States. A signed or of the for to invest shall be furnished the proper office of the , and notice of thereon shall be given said office as provided in the case of hearing on a guardian's account.
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Source & history notes
(L. 1947 V. I p. 4 § 13)
Related Missouri laws
Compensation of guardian
RSMo 475.435
Application of funds
RSMo 475.445
Removal for failure to file accounts
RSMo 475.430
Purchase of home for ward
RSMo 475.450
Filing of accounts
RSMo 475.425
Discharge of guardian and release of sureties
RSMo 475.455
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.