Guardian of the Estate Texas
While the ongoing responsibilities to the Court for a Guardian of the Person are relatively limited, the same cannot be said for the Guardian of the Estate. On the contrary, the Guardian of the Estate has almost limitless obligations to the Court.
The Guardian of the Estate is the person who is appointed by the Court to make financial decisions for the Ward and to protect, preserve, and maintain the Ward’s assets. He is also the person who is responsible for appropriately managing the Ward’s assets and ensuring that the money and assets are appropriated accounted for and reported to the Court. Three driving issues create significant considerations for guardians of the estate, and we provide more complete discussions of each issue on separate pages of this website. Those issues are as follows:
- Bond Issues. Because the guardian of the estate has access to all of the Ward’s money and property, the Court is required to have the guardian post a bond, which is essentially an insurance policy insuring that the guardian does not steal or lose the Ward’s money.
- Court Approval of Guardianship Expenses. To help guarantee that the Ward’s money and property are used solely for his/her exclusive benefit, the guardian of the Estate is required to obtain the Court’s approval to make any expenditures prior to making those disbursements of money. The failure to obtain Court approval can pose serious problems for a guardian.
- Accounting Issues. The guardian of the estate must account to the Court for each and every dollar received by the guardianship and expended out of the guardianship. The accounting requires receipts, lists of assets, etc. Failure to properly account can result in the Guardian being removed and losing his authority to act on behalf of the Ward.
The Probate Courts across Texas typically require guardians of an estate to retain a lawyer to represent and guide them through the entire process of the guardianship. This requirement is instituted to help ensure that the Ward’s assets are appropriately used and reported to the Court.
Because of the numerous accounting-type issues involved in guardianships of the Estate and the strict penalties involved when a guardian fails to comply with them, Ford & Mathiason LLP has taken the unique approach of having a Certified Public Accountant (CPA) who works for the Firm on behalf of our guardianship clients. This CPA is employed to prepare the annual accountings required to be submitted to the Court so that we can help ensure that they are prepared correctly to the benefit of the client. Ford & Mathiason is one of very few law firms practicing in the guardianship arena who has taken this step to help ensure a benefit to their clients.
Whether you are talking about the bond requirements, expenses of the guardianship or the accounting issues in a guardianship, the overriding concern of both the Legislature and the Probate Court is that the assets of the Ward must be preserved and protected for the exclusive benefit of the Ward and can only be expended according to the best interest of the Ward. The “best interest” test is a prevailing theme in guardianship law because anyone having responsibility for making decisions on behalf of an incapacitated person should always use the Ward’s best interest as their guide in making those decisions.
The attorneys at Ford & Mathiason LLP have represented guardians of the estate in numerous cases and in numerous counties across Texas. Whether your case is contested or a more routine matter, we are prepared to assist you in every aspect of the guardianship of the Estate. Please contact us with your questions related to guardianships of the Estate.
