Minor Heirs and Guardianship The Broward County court guidelines dedicate a significant section to Guardianship, a topic that frequently intersects with probate proceedings. What happens when a minor child or an incapacitated adult stands to inherit significant assets?
In Florida, minors are legally prohibited from managing substantial assets (typically anything exceeding $15,000). In such cases, the court must appoint a Guardian of the Property.
- Strict Oversight: The Guardian is held to the highest fiduciary standard and must account for every expenditure to the court.
- Annual Reporting: Per Broward County local procedures, a detailed financial plan and accounting must be filed annually.
- Court Authorization: Even major decisions, such as selling real estate or making significant investments, require prior judicial approval.
Minor Heirs and Guardianship Because this process is often slower and more costly than a standard distribution, it is critical for individuals to consider establishing a Trust to provide for protected beneficiaries without the need for court-mandated guardianship.
