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Guardian of Person (GP) = Annual Report Kinds:
- Minor
- Disabled
- Elderly/Incapacitated
Boutin Jones, Inc. Guardian of Person (GP) = Annual Report Kinds: - - PowerPoint PPT Presentation
Boutin Jones, Inc. Guardian of Person (GP) = Annual Report Kinds: - - PowerPoint PPT Presentation
Donna L. Courville Attorney Boutin Jones, Inc. Guardian of Person (GP) = Annual Report Kinds: Minor Disabled Elderly/Incapacitated All require the same information in the report Living, health, activities
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Michie
- GP = Daughter
- Ward = Mother
- All lived in Lubbock
- GP saw Mother weekly
- GP paid a monthly fee
- Knight
- GP = Niece, CA
- Ward = Aunt, Lubbock
- GP saw Aunt once a year
- GP approved and
deferred annual fee
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Initial impression after basic facts? Who is a better GP? *Review the reports Comments, thoughts, ideas? Both were excellent Guardians of the Person Both Wards had fabulous care and attention Neither Ward improved
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Most Important and Most Difficult Common Timeframe for Accounts
- Time Period: Date of Qualification ending
12 months later (i.e. April 1 to March 31)
- Time to File: March 31 + 30 days (may extend for 30 more)
- March 31 + 60 days = EXPIRED LETTERS OF GUARDIANSHIP
- Guardian can no longer act!
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Amount: Description: Unknown Pending lawsuit for personal injury (value uncertain) $1,000 Pending pharmacy and medical bills per month $ 100 Cable bill per month $ 300 Utilities per month $ 400 Food per month $6,000 Ad valorem taxes/property taxes on home – annual $ 500 Estimated monthly income from interest and dividends only $1,000 Social security income benefits per month $ 800 IRA required minimum distribution per month $200,000 Vanguard IRA $300,000 House (Hockley County) $10,000 Automobile $200,000 1st Rate Bank – Certificate of Deposit $15,000 1st Rate Bank – Checking $550,000 Various Stocks $5,000 Personal effects
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Amount: Description: Unknown Pending lawsuit for personal injury (value uncertain) $1,000 Pending pharmacy and medical bills per month $ 100 Cable bill per month $ 300 Utilities per month $ 400 Food per month $6,000 Ad valorem taxes/property taxes on home – annual $ 500 Esti timat mated month thly y inc ncome
- me from
- m intere
terest st and div ivid idend nds only ly $1,000 Social security income benefits per month $ 800 IRA RA requi uire red mini nimum mum dis istr tribut ution
- n per
r month th $200, 0,000 000 Vangu nguard rd IRA $300,000 House (Hockley County) $10,000 0,000 Auto tomobi mobile le $200, 0,000 000 1st
st Rate
te Bank k – Cert rtif ific icate e of Depos
- sit
$15,000 5,000 1st
st Rate
te Bank – Check ecking ing $550, 0,000 000 Vario rious us Stocks
- cks
$5,000 ,000 Pers rson
- nal effe
fect cts
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Amount: Description: $20,000 0,000 Pend nding ng lawsu wsuit it for pers rson
- nal
l injur ury (value ue uncertain certain) $1,000 Pending pharmacy and medical bills per month $ 100 Cable bill per month $ 300 Utilities per month $ 400 Food per month $6,000 Ad valorem taxes/property taxes on home – annual $ 500 Estimated monthly income from interest and dividends only $1,000 Social security income benefits per month $ 800 IRA required minimum distribution per month $200, 0,000 000 Vangu nguard rd IRA $300, 0,000 000 Hous use (Hockle Hockley Count nty) y) $10,000 0,000 Auto tomobi mobile le $200, 0,000 000 1st
st Rate
te Bank k – Cert rtif ific icate e of Depos
- sit
$15,000 5,000 1st
st Rate
te Bank – Check ecking ing $550, 0,000 000 Vario rious us Stocks
- cks
$5,000 ,000 Pers rson
- nal effe
fect cts
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Personal Residence 1212 Privot Drive Levelland, Hockley County, Texas $300,000 1st Rate Bank Certificate of Deposit #55789 Lubbock, Texas $200,000 1st Rate Bank Checking Account # 25637 $ 15,000 Vanguard IRA #95678 $200,000 Google Stock – 500 shares CUSIP # 89456 @ $900/sh $450,000 Exxon/Mobile Stock – 500 shares CUSIP # 89456 @ $200/sh $100,000 2010 Ford F150 $ 10,000 Personal effects $ 5,000 Total Value $1,280,000
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LIST OF CLAIMS Ward v. Defendant Cause No. 2011-14589 Lubbock County, Texas Pending claim for personal injury (estimated value) $20,000
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Beginning Balance Checking Account #25637 $15,000 RECEIPTS: Estimated mo. income from interest & dividends only ($500 x 12 months) $6,000 Social security income benefits ($1,000 x 12 months) * not required $12,000 IRA - RMD ($800 x 12 months) $ 9,600 Subtotal Receipts $27,600
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DISBURSEMENTS: Pharmacy & medical bills ($1,000 mo) $12,000 Cable bill ($100 mo) $1,200 Utilities ($300 mo) $3,600 Food ($400 mo) $4,800 Ad valorem taxes/property taxes on home $6,000 Insurance $1,500 Part-time in-home assistance $9,000 Accounting fees $500 Legal fees $1500 Subtotal Disbursements $40,100 Ending Balance $ 2,500
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ASSETS ON HAND Residence $300,000 CD $200,000 Checking $ 2,500 IRA $200,000 Stock $550,000 Automobile $ 10,000 Personal effects $ 5,000 New Total: $1,267,500
REMINDER: Assets On Hand – should be compared to the Original Inventory in the Guardian’s first year Annual Account (and periodically thereafter).
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ESTIMATE OF GUARDIAN’S FEE RECEIPTS: Estimated mo. income from interest & dividends only ($500 x 12 months) $6,000 Social security income benefits ($1,000 x 12 months) * not required $12,000 IRA - RMD ($800 x 12 months) $ 9,600 Subtotal Receipts $27,600 LESS SS $15,600 * 5%=$780
REMINDER: Social Security may be disclosed by the Guardian as a means to support the Ward, but no fee may be granted on this. TEC Section 1155.002
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DISBURSEMENTS: Pharmacy & medical bills ($1,000 mo) $12,000 Cable bill ($100 mo) $1,200 Utilities ($300 mo) $3,600 Food ($400 mo) $4,800 Ad valorem taxes/property taxes on home $6,000 Insurance $1,500 Part-time in-home assistance $9,000 Accounting fees $500 Legal fees $1500 Subtotal Disbursements $40,100* 5%=$2,005 Guardian’s Fee $2,785
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Require thoughtful review and common sense Calculations need to be checked Verifi
ification ation of funds on deposit = must be attached (and signed by third party financial institutions)
Confirmat
irmatio ions ns of Safekeeping Agreements – Critical to maintain protection (in lieu of larger bond) – Annually make sure to match account numbers with Verifi ificati ations
- ns
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Minors:
- Expenditures without prior court approval IF the minor has at
least 1 parent living who is responsible for care and support
- Impermissible investments – mutual funds (only permitted
with Court Approval)
- Laptop? Car purchase?
- A parent must show financial hardship and Guardian must
have a Court Order Approving
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Incapacitated Adult (or minor with no parent):
- Expenditures without prior court approval
- Expenditures EXCEEDING the Court Approved monthly
allowance
- Impermissible investments – mutual funds (only permitted
with Court Approval)
- Loans & other unusual expense not suited for Ward.
- “Scholarship?” – for grandchild
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Many ways to go wrong! Phone a friend – Call TAC or a fellow Judge Trust your gut instincts and question things Lunch Topic: Share an odd or unusual Annual Account item
that you have experienced at your table.
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Proper monitoring protects the Ward, the County and the
Judge.
These represent the most significant tools you have to
adequately supervise a guardianship.
Holding attorney
rneys and gu guard rdian ans to high standards of timeliness and accountability is essential.
I’ll see you after lunch for some case studies!
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