When a child under 18 receives financial assets in Florida, the law may require court oversight to ensure those assets are protected and responsibly managed. This legal process is known as minor guardianship, and it is governed by Chapter 744 of the Florida Statutes.
At Daniel M. Genet, P.A., we help parents, relatives, and legal representatives understand and navigate Florida’s guardianship laws for minors.
When Is Minor Guardianship Required in Florida?
Under Florida law, a guardian of the property must be appointed when a minor is entitled to receive $15,000 or more in assets. Common situations that trigger this requirement include:
📜 Inheritance
If a child inherits money or property valued at $15,000 or more, a guardianship is required under Florida Statutes §744.3025. This is common when a minor is named in a will or trust or is a legal heir or an estate.
🛡️ Life Insurance or Death Benefits
When a minor is the beneficiary of a life insurance policy or death benefit exceeding $15,000, a guardian must be appointed to manage those funds. Insurance companies cannot legally distribute large sums directly to minors.
⚖️ Legal Settlements or Judgments
Minors awarded more than $15,000 in personal injury settlements, wrongful death claims, or property damage cases must have a guardian of the property. Under Fla. Stat. §744.387, court approval is also required for the settlement itself.
What Are the Duties of a Guardian of the Property?
Once appointed, the guardian has a fiduciary duty to act in the minor’s best interest and to comply with Florida guardianship laws.
✅ Key Responsibilities Include:
- Initial Inventory: Must be filed with the court within 60 days of appointment.
- Annual Accounting: Detailed yearly reports showing all income, expenses, and asset changes.
- Court Authorization for Expenditures: All significant expenses must be court-approved.
- Preservation of Assets: Funds are usually protected until the child turns 18 unless court use is approved earlier for the child’s benefit.
⚠️ Failure to follow these legal duties may result in removal as guardian or other court sanctions.
Who Can Serve as Guardian of a Minor’s Property in Florida?
Florida allows most adult residents—and certain out-of-state relatives—to serve as guardians, provided they meet the qualifications outlined in Florida Statutes §744.309.
🚫 Disqualifications for Serving as Guardian Include:
- Felony convictions
- Court determination of incapacity or mental unfitness
- History of child abuse, neglect, or exploitation
- Conflicts of interest with the minor’s finances
- Poor financial history (e.g., prior bankruptcy, mismanagement of funds)
The court will evaluate whether the proposed guardian can responsibly manage the minor’s assets and always act in their best interest. The court may also require the posting of a bond is some situations.
Why Minor Guardianship Matters
Appointing a guardian of the property is not just a legal formality—it’s a crucial step to ensure that a minor’s financial resources are preserved, protected, and wisely used. Whether your child is receiving money through inheritance, a lawsuit, or insurance, you’ll want to ensure full legal compliance and avoid future complications.
Work with an Experienced Florida Minor Guardianship Attorney
If you believe a minor guardianship may be required or have been appointed as a guardian, it is strongly advised to work with an attorney familiar with Florida’s guardianship laws.
🏛️ How We Can Help:
- Prepare and file guardianship petitions
- Represent you in court hearings
- Guide you through annual reporting and compliance
- Ensure legal protection of the child’s assets
📞 Call Daniel M. Genet, P.A. at (813) 872-8787
📍 5322 Primrose Lake Circle, Suite F, Tampa, FL 33647
🌐 Serving clients in Tampa, Hillsborough County, and statewide across Florida
Minor Guardianship Lawyer in Florida – Daniel M. Genet, P.A.
Trusted legal advocacy for families during life’s most difficult decisions.