The $15,000 and $50,000 Lines in a Florida Minor's Settlement

By the FigureMyTax Editorial Team · How we calculate

If the net settlement to a child exceeds $15,000, Florida requires a guardianship of the property, and if the gross settlement is $50,000 or more the court must appoint a guardian ad litem to protect the child.

The guardianship line

A legal guardianship is required when the amount of the net settlement to the ward exceeds $15,000 (Fla. Stat. 744.387(2)). A parent holding the money as a natural guardian is limited to the $15,000 aggregate in 744.301(2).

The guardian ad litem

In a case where the gross settlement exceeds $15,000, the court may appoint a guardian ad litem before approving the settlement if it believes one is necessary to protect the minor. If the gross settlement equals or exceeds $50,000, the court shall appoint one, unless a guardian of the minor was already appointed and has no adverse interest. The appointment needs no bond or notice, and the guardian ad litem protects the minor's interests as described in the Florida Probate Rules (744.3025).

Who pays the guardian ad litem

Unless waived, the court awards reasonable fees and costs to the guardian ad litem, paid out of the gross proceeds of the settlement (744.3025(2)). That comes out before the child's net is calculated.

Settlement of claims by a guardian

Before suit, a guardian of the property can petition the court to authorize a settlement, and the court may do so if satisfied it is in the ward's best interest; the order can set whether an additional bond is needed (744.387(1)).

What we did not find

We did not read the Florida Probate Rules on how the court orders the money held, for example a restricted account or a structured settlement, so ask the court what it will require. Then read why a judge approves a child's settlement and how the Bar's fee schedule applies, and see what is left in the Florida minor's settlement calculator.

This is general information, not legal advice, and the state comparisons above are illustrative, not an exhaustive survey. Confirm how Florida's rules apply to your specific case with a licensed Florida attorney.