When adults, typically elderly citizens, are unable to care for themselves and/or their property, guardianship may be necessary. In addition, when minors stand to receive significant property, guardianship over the estate may need to be established. In Texas, you can seek appointment of a guardian over a person and/or a person’s estate.
Guardianships are typically a last resort legal option to care for a person and/or a person’s estate (property) when no other options are available. The need for a guardianship can arise at any point in a person’s life when he or she is unable to manage his or her own care and/or finances; however, it generally arises in the context of elderly persons and minors. Below is more information on guardianships.
A person who is unable to manage his or her own care and/or finances is called the ward, and the person appointed by a court is called the guardian. In Texas, we have two types of court-appointed guardians:
Adults. For most of us, we spend our adult lives trying to build our careers, take care of our families, buy a home and save money for retirement. As a result, in our later years, many of us have accumulated significant assets such as a home, 401k or IRA, and other property and savings. Unfortunately, the vast majority of us will suffer some mental decline as we age. If you become unable to care for yourself or manage your financial affairs due to dementia or other neuro-degenerative or cognitive condition, a loved one may be forced to seek appointment as the guardian of your person and/or your estate to ensure that you are properly cared for and that your assets are not stolen or misused by others.
Minors. Parents are natural guardians of the person of their minor children; however, this does not translate to guardian of the estate of a minor if such minor inherits money or other property from a relative or receives a large settlement in a lawsuit. In such instances where a minor inherits or otherwise receives property above a certain threshold, a parent or other loved one must typically seek court approval to become guardian of the estate of the minor.
The legal process of becoming a guardian of another individual’s person or estate is generally an expensive and emotionally difficult process to endure. Hubbard + Rotthier will work with you to determine if a guardianship is necessary or if there are less restrictive (and less expensive) ways to help your loved.
