Video Summary

What are the pros of guardianship? Guardianship is usually something of last resort. Whenever you set up a guardianship, you ask that the court determine that the person is incompetent, and they take away all their rights. So, it’s a court proceeding. And so, the petition then requests that there be a person appointed as the guardian, which is the person in charge of their money. That’s called the guardian of the property. Also, the person who is charged with taking care of them and their wellbeing and health, and that’s the guardian, the person. So, this is a court proceeding. It’s somewhat expensive, and particularly the IT is supervised even after it’s established. As far as the guardians are concerned, they must file reports with the court at least annually as far as the physical condition of the ward or the person who’s been adjudicated, incompetent file accountings as far as the money and how it’s being spent. Get authorization to spend the money for the ward. So, the pros are pretty much the last resort, and as far as trying to take care of someone who is becoming incompetent and is dissipating their assets, people are taking advantage of them or they’re subject to scams or whatever. So, if you have any questions about guardianship, give me a call at (727) 847-2288.

Video Summary

What are” guardians ad litem”? That is a term used in litigation. Whenever someone’s appointed to represent the interest of someone. An example of people who they’re appointed to represent is if you have what they call on unknown spouses are unknown heirs. They may appoint a guardian ad litem to represent this class of people in the litigation so that their rights are protected. Or if you tried to serve this person or cannot locate them and you want to be sure that their rights are protected whenever the court makes a judgment, you ask the court to appoint a guardian ad litem, to represent the interest of a defendant who you have served through construct the service of process. And, so that the guardian ad litem can appear and verify that you’ve either made service or process or had the person file something in their behalf. But that’s what a guardian ad litem is. It’s used in litigation to protect the interests of people who do not appear. And you’ve tried to serve through constructive service or through publication. If  you have any questions about a guardian ad litem? Give me a call at (727) 847-2288.

Video Summary

How does a guardianship end? Well, there are several scenarios as far as a guardianship is involved. Let’s first talk about what is a guardianship. That’s whenever you have someone appointed to take care of the ward, and the ward does not have all of their rights, as far as that’s concerned. It could be a minor who cannot have the right to contract till they reach of majority, and so you could have a guardianship for a minor who doesn’t have a right to contract. Then you have the incapacitated person who does not, is mentally not capable of executing their documents or they’re found to be incapacitated and therefore someone’s been appointed as their guardian.

Let’s start with how do you end a guardianship for a minor. Well, that’s fairly easy. Once they reach the age of 18, well then you can terminate the guardianship and you turnover whatever the assets are to the ward. That’s how that would end. Then you go to the guardianship where you have an incapacitated person and it can end if the person who’s incapacitated or the ward, if they petition the court and have their competency or competency hearing to show the court that they have their competency, that would terminate the guardianship. That rarely happens, but that is another way to terminate a guardianship.

The most common way, particularly when you have incapacitated person’s, is whenever they pass away, that would end the guardianship. Then the money would then pass to their state or probate proceedings as far as that is concerned. If you have a guardianship or would like some advice, you can contact our office. We have Erica Muns has joined our firm and has some experience with guardianship’s and would be pleased to meet with you and talk to you about the expense, and whether or not it can be terminated. Guardianship’s are court supervised proceedings. They’re closely monitored by the court, particularly the money involved. If you have any questions, give us a call at 727-847-2288.

Video Summary

What is a guardianship of minor property. Well, guardianship for minor property is necessary any time a person under the age of 18 years old receives over $15,000. Well, one might ask, “How would a person under 18 years of age receive over $15,000?” The most common situations generally involve either an inheritance from a loved one or an injury settlement related to, generally, automobile accidents. Now, obviously, there are many other situations in which a child can receive over $15,000, but those are generally the most typical types of situations. A lot of times children will receive monies under insurance policies. Well, those monies, even though they don’t go through a probate proceeding, are still going to be subject to a guardianship of minor property.

A guardianship of minor property is not an option. Some people will ask, “Well, if my child is 15 years old, can I not just leave the life insurance proceeds with the life insurance company for the next three years until they reach the age of majority, and then they can take it out themselves?” Generally, the answer is going to be “No.” The life insurance company does not want to continue to hold those funds. They want to pay out the claim and they want to close the case.

With respect to that, it’s important to associate yourself with an attorney that specializes in this area of the law. I specialize in this area of the law at the law firm of Waller & Mitchell. If you or anyone you know has a child under the age of 18, and they’ve received an inheritance or a settlement as a result of an injury, please have them give me a call at the law offices of Waller & Mitchell at 727-847-2288 so I can help assist them with this matter.