LOS ANGELES GUARDIANSHIP LAWYERS AND ATTORNEYS:
CALL OUR GUARDIANSHIP ATTORNEY WITH YOUR QUESITONS at 818.340.4479
WHAT IS A GUARDIANSHIP OF THE ESTATE?
A Guardianship is the legal procedure by which an adult can be given the right to manage assets and money of a minor. The process continues until the minor turns 18 in California. At 18, the minor or the guardian can petition the court to terminate the guardianship.
WHO NEEDS A GUARDIANSHIP OF THE ESTATE OF A MINOR?
Any minor who is receiving assets over $5,000.
Any adult who intends to collect assets of a minor (in excess of $5,000) should initiate a guardianship of the estate of the minor.
If the life insurance policy is payable to a custodian, a guardianship proceeding may be avoided.
WHAT IS A GUARDIANSHIP OF ESTATE, AND WHY DOES A PARENT NEED ONE?
A Guardian of the Estate manages money of the minor. A parent needs a guardianship of the estate in most cases.
A Guardian of the person manages the daily life decisions of a minor. A parent does not need a guardianship of the person.
Example of Guardians of Estate: A parent or other person who will control the money of a minor. A parent normally does not have the right to control more than $5,000 of the minor's money, without a court order.
Example of Guardian of the Person: A grandparent who will control the daily life of the minor. A parent does not need guardianship of the person, because legally, they have to take care of the minor.
HOW TO GET APPOINTED AS A GUARDIAN?
The process begins with a Petition for Appointment as a Guardian. There is a court investigation requirement when the minor is unrelated to the proposed guardian. Where the guardianship is for the estate, there is usually a bond requirement, unless the court requires blocked accounts for the minor.
COLLECT LIFE INSURANCE PROCEEDS FOR A MINOR:
A Guardianship petition is filed with the court and upon issuance of the Letters of Guardianship, the attorney for the Guardian notifies the life insurance company and arranges for the disbursement of the life insurance proceeds to the guardianship estate account. The process takes 60-75 days from the filing of the Petition for Appointment of the Guardian,
NOMINATE A GUARDIAN FOR YOUR CHILD WITH A GUARDIANSHIP NOMINATION FORM:
If you are a parent and have not nominated a guardian for your child in your will, please contact us and we will provide you with a free electronic guardianship nomination form. Click here to request the form: MSirkin@SirkinLaw.com.
PROTECT RIGHTS OF A MINOR IN A LIFE INSURANCE:
Once you know a minor is a beneficiary of a life insurance and no custodian has been named in the beneficiary designation form, you should contact a lawyer to assist you in protecting the rights of the minor in that life insurance policy.
PROTECT A MINOR'S RIGHT TO LIFE INSURANCE PROCEEDS AGAINST OTHERS:
We can initiate suits to collect life insurance proceeds where there are competing rights by a minor to a life insurance policy against other persons. Please contact us to consult regarding the circumstances of your particular case. Examples of this type of suit may be that the insurance company does not pay, or is slow to pay the life insurance policy, or that someone else is claiming the insurance in an interpleader action.
FORM A GUADIANSHIP OF THE ESTATE FOR A MINOR:
Call us for a list of documents we will need to assist you in completing the guardianship petition process in Los Angeles, California. Contact here.
Our law office handles guardianship matters in all Los Angeles County courts. Our offices serve the following areas: Los Angeles Calabasas Woodland Hills West Hills Sherman Oaks Tarzana Northridge North Hollywood Reseda Van Nuys Burbank Glendale West Los Angeles Pasadena Studio City Granada Hills Chatsworth Encino Simi Thousand Oaks Westlake Village Simi Valley Conejo Valley Camarillo Santa Monica Culver City Venice Agoura Hills Oak Park