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College Station, TX
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Guardianships over estates

There may be many situations in which a person in Texas is unable to provide care for themselves and requires another party to assume some responsibility for this. The person may be a minor under the age of 18 or a person 18 years of age or older who is in some way incapacitated. Such incapacitation may result from injury, illness or other forms of disability. It may be temporary or permanent. These are times when a guardian may be appointed.

As the Texas Guardianship Association explains, a guardian may be provided to care for a person's physical needs but a guardian may also be appointed to care for a person's financial matters. The latter is referred to as a guardian of the estate. An estate guardian is responsible for maintaining a 100-percent accurate accounting of all financial transactions for the ward, the person over whom a guardianship has been established. An annual accounting of all payments along with receipts is required to be filed.

The Texas Department of Aging and Disability Services adds that the guardian maintains no personal liability for any debt owed by the ward but rather is responsible for ensuring debts are paid. The court may be required to approve payments or other financial transactions such as the purchase or sale of property or the investment of funds. A guardianship of an estate may be granted in full or limited status.

An estate guardian must also post a bond issued by an insurer and pay all premiums for this bond. Premiums may be reimbursable to the guardian from the ward's estate.

 

 

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College Station, TX 77840

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