Mississippi Petition of mother and natural guardian of a minor for payment of insurance proceeds
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Petition Minor Payment FAQ
A guardian is generally paid an amount which is not more than five percent of the ward's yearly income. The amount may vary slightly, but in no case should the guardian's compensation be fixed at less than fifty dollars for a year.
In order to pay themselves, each Certified Professional Guardian or Certified Professional Guardian Agency needs a court order allowing them to pay themselves. At each reporting period where the guardian submits a report to the court, the judge has to determine if the fees are reasonable and approve them.
As guardian of the person, you are entitled to compensation for your time, upon court approval. The compensation cannot exceed five percent of the ward's gross income. Attorney fees and other costs can and should be paid out of the ward's income, upon court approval.
Assuming they all agree and your father needs a guardian, you should be appointed fairly quickly. So, it could be anywhere from $1000 to $2000 depending on all of the factors. Maybe less than $1000 if it is a straightforward case. However, it is probably better if you get a lawyer to help you.
The guardian is responsible for deciding where the ward's liquid assets will be held and who will be responsible for overseeing the investments. If the ward owns any real estate, the guardian is responsible for paying all of the bills for maintaining the property such as taxes, mortgages and insurance.
Two lines beneath the guardian's address, you should insert the subject heading of the letter. For example, type RE: Temporary Guardianship of Minor Child, Elizabeth Bennett. Draft the body of the letter. The first paragraph of the body of the letter should name your children and state that you have custody of them.
GUARDIAN: In the event I shall die as the sole parent of minor children, then I appoint ____________________________________ as Guardian of said minor children. If this named Guardian is unable or unwilling to serve, then I appoint ____________________________________ as alternate Guardian.
Child support responsibilities usually end when the child turns 21 years of age, enters the military, gets married, becomes self-supporting or is adopted by a third party. A parent can seek a reduction in his/her child support payments if his/her salary decreases.
The main difference between custody and guardianship is the child's parents - custody is provided to the child's biological parents while guardianship is given to a non-biological parent.