One of the first things parents should do when they have children is to get a legal will made or start a living trust. Making sure your children inherit your assets after you die is incredibly important for many families and a probate attorney Sarasota residents trust can help make sure your interests, and your beneficiaries, are protected. However, minors are not just given a check once the estate is settled, there are many rules that guide how minors can access or use inheritances, including the need for a property guardianship to be implemented.
What is a Property Guardianship?
When a minor inherits more than the maximum allowed by their state the estate must go through probate court for a property guardianship to be appointed. The guardian, sometimes called a conservator, is supervised by the courts, but oversees managing the trust on behalf of the minor until the minor reaches an age where they can take control of their own finances.
A probate attorney Sarasota courts approve will be able to help your family navigate the courts and processes that must be followed when establishing a property guardianship or conservatorship. If there are no probate proceedings necessary, the attorney can simply petition the courts to appoint a guardian. When inheritances are coming as cash from insurance policies or retirement accounts, and does not need to go through probate, the process is much easier; however always consult with your probate attorney Sarasota courts accept.
Probate guardianships over property can also be established when a beneficiary is an adult but is incapacitated or otherwise unable to make decisions for themselves. Guardianship over the individual may also be established for disabled adult children. The guardian of the person and of the property can be different people; however, it is common for the courts to appoint the same guardian to manage the person and their finances and or property.
If you want to learn more about probate and guardianships, call a probate attorney, at The Law Offices of Kimberly K. Muenter, P.A. at 941-229-2529.