The guardianship process is a court supervised process where a guardian is appointed to handle the financial and/or medical related affairs of a child or an adult. A guardian is a surrogate decision-maker appointed by the court to make personal and/or financial decisions an adult with mental and/or physical disabilities or for a minor child. The guardianship can be plenary (complete) or limited depending on the abilities of individual needing guardianship.
Guardianship over an adults occurs where a person becomes incapacitated without proper estate planning documents. This is very common with the elderly and/or individuals who become incapacitated in a car accidents or experience other similar injuries rendering them to be unable to make financial and/or medical-related decisions on their own.
Guardianship over a child may be necessary where a child’s natural parents pass away. A guardian may also be necessary when a minor’s parents are incapacitated or if a child receives an inheritance or proceeds from a lawsuit or insurance policy exceeding $15,000.
Florida law allows the petition for both voluntary and involuntary guardianship. Voluntary guardianship can be established by an adult who has capacity to make such decisions but voluntarily allows another person to manage their financial and/or medical affairs. Estate planning documents may accomplish the same result as involuntary guardianship with less supervision.
Involuntary guardianship is more common and involves the following: a determination of incapacity through a adjudication hearing and the transfer of rights to another, or the naming of a guardian. There is also an annual review regarding the restoration of rights to the person who is under guardianship.
Contact Capital Planning Law, PLLC for your complimentary consultation to discuss your business law and corporate transactions, estate planning, probate, guardianship and/or real estate needs.