Guardianship for Minors & Children
Legal Protection for Minor Children and Their Property
In Florida, parents are the natural guardians of their minor children’s persons. However, natural parents do not automatically have the legal authority to manage substantial financial property, inheritances, or legal settlements belonging to their child. When a minor acquires significant assets or when parents are tragically deceased or unable to provide care, Florida law requires the establishment of a formal guardianship of the minor.
Key Circumstances Requiring a Minor Guardianship
Florida law mandates the appointment of a legal guardian of the property or person for a child in two primary scenarios:
- Guardianship of the Property (Assets Exceeding $15,000): Under Florida Statute § 744.387, if a minor receives an inheritance, life insurance payout, wrongful death recovery, or personal injury settlement exceeding $15,000 net, the court must appoint a legal guardian of the minor's property to manage and preserve those funds until the child reaches age 18.
- Guardianship of the Person (Loss or Incapacity of Parents): If both parents pass away or are declared incapacitated, unfit, or incarcerated, a guardian of the minor's person must be appointed by the court to provide a safe home, oversee education, and make daily healthcare decisions.
Court Oversight of Children's Funds
Florida probate courts maintain strict oversight over a minor's funds to ensure the money is preserved for the child's adult future:
- Funds are typically placed into court-restricted depository accounts that require a formal court order before any withdrawal can occur.
- The guardian must file an initial verified inventory of all minor property within 60 days.
- The guardian must submit annual accounting reports detailing every penny earned and spent on the child's behalf.
How Cynthia I. Waisman, P.A. Assists Families
Whether you are a parent seeking approval for a child's injury settlement, a grandparent caring for orphaned grandchildren, or a designated testamentary guardian under a will, attorney Cynthia I. Waisman provides steady guidance to secure court appointment and navigate compliance smoothly.
Consult with an Experienced Florida Guardianship Attorney
Whether you are seeking legal authority to protect an elderly parent or need assistance with annual guardianship filings, attorney Cynthia I. Waisman provides skilled, empathetic legal representation in Tampa and Clearwater.
