A financial guardian is a person who has the legal authority to manage the finances and property of another person. Typically, financial guardians manage finances for children or severely disabled people who are unable to look after their own affairs. Financial guardians must be appointed by the court in order to become legally authorized for their positions.
Financial guardians are basically caretakers for the finances of people who are unable to do it on their own. These guardians can file lawsuits, sign contracts, and make other financial decisions for the person they guard. An example of someone who may need a financial guardian would be someone who experienced a traumatic brain injury and is no longer of sound enough mind to manage their finances. Another example would be an orphan whose parents died, leaving them in control of their estate.