Seven Responsibilities of the Guardians of Estates with Minors in California
Once appointed as guardian of an estate with a minor beneficiary has been obtained, the “to do” list of the guardian suddenly becomes very long. Being a guardian is not an easy job, and it requires strict attention to the probate laws in California. If you are a guardian or are petitioning to become one, make sure you are completing all the responsibilities of the guardians by obtaining the assistance of a probate lawyer in San Diego to ensure you comply with all of the necessary laws, rules, and regulations.
The responsibilities of the guardians of an estate of a minor child are numerous. These obligations include:
- Filing financial reports with the court within 90 days of appointment
- Preparing and filing the inventory and appraisal, signed by a referee, showing the value of the estate assets
- Collecting and making a list of all of the minor child’s property
- Obtaining and protecting all money and property of the estate
- Retitling any inherited property into the name of the estate
- Obtaining copies of the Letters of Guardianship and recording them with the County Recorder in any county where the child has an interest in real estate
- Filing regular accountings with the probate court regarding the assets of the estate
Failing to abide by any of these responsibilities can harm the estate’s assets and have legal ramifications for the guardian. Collecting the assets of the estate is one of the more difficult jobs that a guardian must handle. To learn more, or for assistance with handling your responsibilities as the guardian of an estate, contact an experienced probate attorney in San Diego today. Contact us today!