Legal Support for Families Protecting Vulnerable Adults in Orlando
Orlando families with adult children who have special needs often face difficult decisions when it comes to managing finances and long-term care. Once a child turns 18, parents lose their automatic authority to oversee financial matters unless they obtain legal rights through the courts. Financial guardianship is one way to ensure those assets are protected and used in the individual’s best interest.
I’m Beryl Thompson-McClary, an experienced Orlando Guardianship Attorney, and I represent families throughout Orange County, Florida, in financial guardianship matters involving adults with developmental disabilities and cognitive impairments. If you are concerned about your loved one’s ability to manage money, access public benefits, or avoid financial exploitation, I can help you through this legal process. Call 1-888-640-2999 to schedule a consultation.
What Is Financial Guardianship in Florida?
Financial guardianship, often called a guardian of the property, is a legal appointment by the court that gives one person the authority to manage another adult’s money and assets. This can include overseeing bank accounts, Social Security payments, government benefits, investments, and property.
In Florida, this is governed by Florida Statute Chapter 744, which outlines the responsibilities and limitations of a guardian of the property. The court appoints a financial guardian when an adult is legally determined to be unable to handle financial matters independently due to a developmental disability, illness, or cognitive condition.
When an adult has special needs, the goal is not to take away independence unnecessarily, but to protect them from making financial decisions that could cause harm or disqualify them from important government benefits.
How Is Financial Guardianship Different From Guardian Advocacy?
For adults with developmental disabilities, Florida law allows a streamlined process called guardian advocacy under Florida Statute 393.12. This process applies when the individual is diagnosed with a qualifying developmental condition that began before age 18, such as:
- Autism
- Cerebral palsy
- Down syndrome
- Prader-Willi syndrome
- Phelan-McDermid syndrome
- Intellectual disability
Guardian advocacy may include authority over financial matters, but only if the petition includes that specific request. In other cases, the court may appoint a guardian of the person to assist with healthcare and personal matters and a separate guardian of the property for financial issues.
I help families assess whether guardian advocacy is sufficient or if a full financial guardianship is necessary. It depends on the nature of the individual’s disability and whether assets are involved that need protection.
Who Needs a Financial Guardian?
Not every adult with special needs requires a guardian of the property. Financial guardianship is usually appropriate when:
- The individual is unable to understand or manage money
- There is a risk of financial exploitation
- The person is unable to apply for or manage Social Security or Medicaid
- The individual has an inheritance, settlement, or other assets that need protection
- They are unable to follow basic budgeting practices or avoid scams
This process may be critical for families in high net-worth divorce cases where the child is set to receive support, trust disbursements, or property, and cannot manage those resources independently.
What Does a Financial Guardian Do?
As a guardian of the property, you are legally responsible for managing another person’s finances according to Florida law. Duties include:
- Opening and managing bank accounts on behalf of the ward
- Paying bills and overseeing financial transactions
- Managing and preserving assets and investments
- Keeping detailed records and receipts
- Submitting an Initial Inventory and Annual Accounting to the court
- Applying for and managing government benefits like Medicaid and SSI
Under Florida Statute 744.365, financial guardians are required to submit detailed accountings to the court each year. These reports must show how money was spent and confirm that assets are being protected.
The Legal Process of Becoming a Financial Guardian
To become a guardian of the property in Florida, you must file a petition in the probate court. Here is how the process works:
Step 1: File a Petition for Appointment
Submit a petition for financial guardianship in the county where the individual resides. You must state why the person needs help and which rights should be delegated.
Step 2: Court Evaluation
The court will appoint an examining committee to evaluate the person’s capacity. A separate attorney is appointed to represent the proposed ward.
Step 3: Incapacity Hearing
A judge holds a hearing to review medical evaluations and determine whether the person lacks capacity to manage finances. If so, the judge will decide whether you should be appointed.
Step 4: Guardian Education
All guardians of the property must complete an education course approved by the court. This course explains your legal responsibilities.
Step 5: Bond and Inventory
The court may require a bond (insurance) to protect the ward’s assets. An inventory must be filed listing all income, property, and financial accounts.
Step 6: Ongoing Court Supervision
Each year, you must file an Annual Accounting showing how the ward’s money was spent. You must also act in their best interest and comply with court orders.
Responsibilities, Risks, and Accountability
Being a financial guardian comes with legal and ethical responsibilities. If you misuse funds, fail to file reports, or act against the ward’s interests, the court may:
- Remove you as guardian
- Order you to repay any losses
- Impose legal sanctions
Under Florida Statute 744.474, a guardian can be removed for mismanagement, neglect, or failure to follow court orders.
At my law office, I work with both sides—those seeking financial guardianship and family members who are concerned about how a guardian is managing funds. I also represent parties in contested guardianship cases involving allegations of misused funds or asset protection disputes.
FAQs About Financial Guardianship for Adults With Special Needs in Florida
What is the difference between a guardian of the property and a guardian of the person? A guardian of the property manages financial matters, while a guardian of the person handles personal and healthcare decisions. Sometimes one person serves in both roles, but the court may appoint different individuals depending on the situation.
Does a guardian of the property control all financial decisions? Only those that the court grants authority for. The guardian must manage the ward’s money in their best interest and cannot mix it with personal funds. Court approval is often required for large purchases or asset transfers.
Can an adult with special needs retain any control over their finances? Yes. If the court finds that the person can manage some aspects of their finances, it may allow a limited guardianship. The court will specify which rights are removed and which remain with the individual.
How does a financial guardian protect eligibility for benefits like Medicaid or SSI? Guardians must avoid actions that could affect eligibility, such as holding too much money in the ward’s name. In many cases, it’s appropriate to establish a Special Needs Trust to hold assets without affecting benefit eligibility.
Can someone challenge a petition for financial guardianship? Yes. The individual or any interested party can contest the petition. They may argue that the person does not need a guardian or that someone else is more appropriate for the role.
What happens if the guardian misuses the money? The court can remove the guardian, require them to repay the money, and take legal action. Family members or other interested parties can file complaints with the court if they suspect wrongdoing.
Is it better to plan ahead with a power of attorney? Yes, when possible. A financial power of attorney allows a person to choose someone to manage their money if they become incapacitated. However, many individuals with developmental disabilities are not legally able to execute such documents, which is why financial guardianship is often necessary.
Do guardians get paid for their work? Yes, but only with court approval. Guardians can request reasonable compensation for their services. Fees must be documented and approved by the judge overseeing the case.
Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation
Financial guardianship may be the best way to protect your adult child’s assets, preserve their eligibility for benefits, and shield them from financial abuse. If you have questions or are ready to file for guardianship, I’m here to help. Call 1-888-640-2999 to schedule a consultation and discuss the right plan for your family.
