(a) On petition, and after any notice or hearing prescribed by law or the Maryland Rules, the court may appoint a guardian of the property of a minor or a disabled person.
(b) A guardian shall be appointed if the court determines that:
(1) A minor owns or is entitled to property that requires management or protection; or
(2) Funds are needed for the minor’s support, care, welfare, and education and protection is necessary or desirable to obtain or provide funds.
(c) A guardian shall be appointed if the court determines that:
(1) The person is unable to manage effectively the person’s property and affairs because of physical or mental disability, disease, habitual drunkenness, addiction to drugs, imprisonment, compulsory hospitalization, detention by a foreign power, or disappearance; and
(2) The person has or may be entitled to property or benefits which require proper management.