Minors cannot inherit property or receive funds in excess of $15,000. If this happens, and there is no trust in place to hold the minor’s property until they turn 18 (you can read about trusts here (link), then a guardianship of the property is necessary. Florida law requires certain settlement amounts to be approved by the court. Moreover, certain settlement amounts require the appointment of a guardian ad litem to help protect the minor’s interests.
In addition, if a minor’s parents are deceased or unable to care for the minor, a guardian of the person may be necessary. The guardian will help the minor with everyday personal affairs, such as medical care and general welfare.
The Guardianship attorneys at The Law Office of Fausto A. Rosales, P.A. are experienced in this area of the law and have helped numerous guardians navigate this tedious area of the law.