Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney to discuss your specific situation.
Detailed Answer
Under Indiana law, a minor (anyone under age 18) cannot directly control or manage property interests in an estate. To protect the minor’s assets and ensure proper management, the court may appoint either a guardian of the estate or a guardian ad litem. Here’s how the process works:
1. Filing a Petition for Guardianship
- An interested party—often a parent, grandparent, or personal representative—files a petition in the probate division of the local circuit or superior court. See Indiana Code Title 29, Article 3, Chapter 3.
- The petition must include the minor’s name, date of birth, residence, the nature of their interest in the estate, and the petitioner’s relationship to the minor.
2. Providing Notice
- Indiana Code § 29-3-3-11 requires notice to the minor’s parents, any current guardian, the Department of Child Services if involved, and all interested parties, such as heirs or devisees.
- Proof of service must be filed with the court before the hearing date.
3. Appointment of a Guardian Ad Litem (GAL)
- If the minor’s interests conflict with those of the petitioner or other parties, the court may appoint a GAL under Indiana Trial Rule 17 to represent the minor’s interests during proceedings. See Indiana Trial Procedure Rule 17.
- The GAL investigates the minor’s needs and makes a recommendation to the court.
4. Court Hearing and Evaluation
- The court schedules a hearing to determine whether the appointment is in the minor’s best interest. The minor may be present or represented by the GAL.
- The court evaluates the proposed guardian’s fitness, the minor’s needs, and the scope of duties required.
5. Issuing Letters and Bond
- If the court finds that guardianship is necessary, it issues Letters of Guardianship and may require the guardian to post a bond to secure the minor’s assets. See IC 29-3-3-23.
- The guardian assumes fiduciary duties, managing the estate prudently and in the minor’s best interests.
6. Ongoing Court Oversight
- Guardians must file periodic accountings and reports with the court under IC 29-3-3-42 to demonstrate proper management of the minor’s assets.
- The court can modify or terminate the guardianship when the minor turns 18 or circumstances change.
Helpful Hints
- Start early: Initiate the petition promptly after the minor inherits assets to avoid delays.
- Gather documentation: Have the minor’s birth certificate, court-filed will or trust documents, and asset details ready.
- Choose a suitable guardian: Select someone trustworthy with financial experience.
- Expect bond and fee requirements: Budget for court costs, bond premiums, and possible attorney fees.
- Keep meticulous records: Accurate accounting simplifies periodic court reports and reduces liability risk.