Who Will Manage Your Children's Finances?
In the case of a minor child, the court will appoint someone to raise the minor child if the parents are deceased or if the court determines the parents are unsuitable to have custody.
The natural parents have the right to raise their children, but they do not have an inherent right to manage their children’s finances or settle personal injury claims on behalf of their minor child. The probate court must authorize approval of legal settlements. The guardian of a minor must obtain prior court approval before spending any of the minor’s money. The guardian must prepare and file annual accountings and reports with the court.
Favret Law, LLC can assist you in the application to become a guardian of a minor, in obtaining court approval of expenditures and in the preparation of the required accountings and reports to the court.
Who Will Oversee the Handicapped Adult?