Texas Guardianship Current Assets refer to the financial holdings and properties that are under the control and management of a court-appointed guardian in the state of Texas. These assets are intended to be utilized solely for the benefit and well-being of individuals who are unable to manage their financial affairs due to incapacitation or minor age. 1. Cash and Bank Accounts: This category includes all liquid assets such as checking and savings accounts, certificates of deposit (CDs), money market accounts, and other cash equivalents held by the ward (the person for whom the guardianship is established). The guardian has the responsibility to safeguard and manage these funds, ensuring they are used appropriately for the ward's needs. 2. Investments: Texas guardianship current assets may also encompass various types of investment instruments such as stocks, bonds, mutual funds, and retirement accounts held in the ward's name. The guardian plays a crucial role in monitoring the performance of these investments and making informed decisions regarding their reallocation or liquidation as needed. 3. Real Estate: If the ward owns any real property, such as a house or land, it falls under the guardianship's current assets. The guardian is responsible for managing the property, ensuring its upkeep, handling rental properties if applicable, and making decisions about selling or leasing real estate on behalf of the ward, always keeping their best interests in mind. 4. Personal Property: Personal belongings, vehicles, jewelry, artwork, and other valuable possessions owned by the ward are considered current assets of the guardianship. The guardian must take appropriate steps to safeguard these items and may need to make decisions about insuring, selling, or properly storing them according to the ward's needs and preferences. 5. Business Interests: In cases where the ward has ownership in a business or is a partner in a Texas-based enterprise, the guardian oversees and manages these business interests on the ward's behalf. This may involve making decisions related to the operation, sale, or dissolution of the business, aiming to protect the ward's financial stability and assets. 6. Intellectual Property and Royalties: Any patents, trademarks, copyrights, or royalties associated with the ward's intellectual work or creative endeavors are considered current assets and are subject to guardianship management. The guardian administers these assets, ensuring proper licensing, protection, and monetization while prioritizing the ward's financial needs. In summary, Texas Guardianship Current Assets encompass a range of financial holdings, properties, and belongings owned by a ward. They include cash, bank accounts, investments, real estate, personal belongings, business interests, and various intellectual properties. The guardian's role is to carefully handle and administer these assets in the best interest of the ward, with the primary focus on enhancing their well-being and financial security.
Texas Guardianship Current Assets
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The Guardian Bond provides protection for the ward and/or their estate by acting as a financial guarantee in cases where the fiduciary does not uphold that probate court's and State's guardianship standards. In some cases, there are exemptions to the surety bond requirement.
In order to apply to become a certified Guardian, you must: Submit the Application for Certification. ... Pay the application fee. ... Pass a criminal history background check with DPS and the FBI. ... Register for, and pass, the required exam. Guardianship Certification - JBCC - Texas Judicial Branch Texas Judicial Branch (.gov) ? jbcc ? initial-certification Texas Judicial Branch (.gov) ? jbcc ? initial-certification
Before receiving guardianship, Texas requires a hearing on any guardianship for a minor. In that hearing, you must present convincing evidence that the minor needs a guardian. Also, you must prove that you are qualified to serve as the child's guardian. Approval is not automatic. Guardianship of a Minor In Texas | Keith Morris Attorney at Law texas-probate-attorney.net ? our-services ? g... texas-probate-attorney.net ? our-services ? g...
Guardianship is a legal process, requiring the services of an attorney, which is designed to provide maximum protection to a person. Establishing a guardianship requires the services of an attorney and can be time consuming and expensive. A Texas Guide to Adult Guardianship Harris County Probate Court #1 (.gov) ? pub395... Harris County Probate Court #1 (.gov) ? pub395... PDF
In Texas, the process to appoint a guardian includes: Filing an application with a court. Having a hearing before a judge. Having a judge appoint a guardian, if one is needed.
(b) A guardian of an estate must give a bond before being issued letters of guardianship unless a bond is not required under this title.
If Appointed Guardian: Within 20 days of appointment, you must sign under oath that you will perform the duties of a legal guardian and post a bond with the court. After you post the bond, the clerk will issue ?Letters of Guardianship? to prove that you are the guardian. The letters expire after 16 months.
Once you file your completed paperwork, it usually takes about 30 days for the court to decide if they will grant guardianship. Lawyer and court costs are generally $2,000 to $5,000, depending on where you live in Texas and how hard it is to get the guardianship completed. Legal Guardianship for Young Adults with Disabilities Navigate Life Texas ? legal-guardianship... Navigate Life Texas ? legal-guardianship...
