Arkansas House Bill HB1832

Arkansas 2023 Regular Session

• Introduced: 3/31/23
• Refer: 4/3/23
• Failed: 5/1/23

Caption

To Amend The Permissible Investments A Guardian Of The Estate May Make On Behalf Of A Ward.

Impact

If enacted, HB1832 will directly affect statutory provisions concerning guardianship and estate management in Arkansas. By permitting investments in the Arkansas Brighter Future Fund Plan, the bill seeks to empower guardians, allowing them to make more varied financial decisions aimed at benefiting their wards. This change could significantly influence how guardians strategize their wards' financial futures, potentially leading to greater asset growth and security for vulnerable individuals.

Summary

House Bill 1832 aims to amend the permissible investments that a guardian of the estate can make on behalf of a ward. The proposed changes include an addition to the existing Arkansas Code, allowing guardians to invest in the Arkansas Brighter Future Fund Plan. This move is intended to expand the investment options available to guardians, thereby enhancing the financial management capacity for the wards they represent. The bill signifies an important shift in promoting better financial outcomes for individuals under guardianship.

Contention

Despite the rationale behind the bill, discussions surrounding HB1832 may highlight concerns over the qualifications and responsibilities of guardians making these investment decisions. Critics might argue that guardians should undergo thorough training and oversight to ensure that such financial decisions are always in the best interest of the wards. Additionally, the implications of investment risks associated with the Arkansas Brighter Future Fund could generate debate on the overall effectiveness and safety for wards' financial health.