custodianship

Custodianship is the state or role of acting as a custodian—someone entrusted to take care of, protect, or manage property, records, or people on behalf of another person or organization. It is a fiduciary or guardianship-like relationship in which the custodian does not own the asset but has legal duties toward the owner or ward.

In family law, custodianship (often called guardianship or custody) refers to responsibility for a child or dependent adult. Courts or agreements designate custodians to make welfare, education, and medical decisions in the ward’s best interests. Arrangements can be physical custody, legal custody, or a combination, and may be temporary or long-term depending on the jurisdiction.

In finance and asset management, a custodian is a person or institution charged with safekeeping and managing assets for another party. Duties include holding securities or cash, settlement and transfer, record-keeping, and compliance with applicable laws. The custodian generally does not own the assets but acts as a fiduciary.

In information governance, data custodianship designates the responsibility for safeguarding data assets, ensuring security, privacy, quality, and controlled access under a data governance framework. Related terms include data stewardship and data ownership.

Similar custodianship concepts apply to libraries, archives, and cultural property, where custodians protect collections, oversee conservation, provenance, and access, and balance preservation with public or scholarly use.

Legal frameworks vary by jurisdiction and context; custodianship can be voluntary or court-ordered, and breaches of duty may incur liability. It overlaps with guardianship, trusteeship, and stewardship.