Houston, Texas - Houston guardianship attorney Whitney L. Thompson of The Law Office of Whitney L. Thompson, PLLC (https://www.wthompsonlaw.com/guardianship-bank-account-rules/), is providing clear guidance on guardianship bank account rules in Texas, emphasizing fiduciary duties, restricted depositories, and annual court-accounting requirements. The update addresses how a guardianship account should be opened, funded, and monitored so that a ward’s assets remain protected under the Texas Estates Code and local probate court procedures.

Texas law distinguishes guardianship of the person from guardianship of the estate, and a Houston guardianship attorney frequently helps families navigate the latter when financial management is required. After appointment and qualification through oath and bond, a clerk issues Letters of Guardianship, used to establish a separate, dedicated bank account for the ward. Funds must remain segregated from personal accounts and may be used only for the ward’s support, maintenance, education, or other court-authorized purposes. Courts may direct deposits into a court-approved depository or restricted account for added protection.

Guardians must maintain transparent books and records and file an annual account with supporting vouchers and bank statements under Tex. Est. Code §§ 1163.001–.005, while guardians of the person submit an annual report under § 1163.101. A Houston guardianship attorney can prepare inventories, appraisements, and annual accountings that reconcile opening balances, income, disbursements, and closing balances. Routine actions such as paying taxes, court costs, and bond premiums are permitted, but most asset dispositions require prior court approval. Careful recordkeeping supports court review, facilitates audits, and reduces the risk of surcharge or removal for mismanagement.

The fiduciary standard requires loyalty, prudence, and avoidance of conflicts. Practical measures include using a separate guardianship checking account, paying ward-related expenses from that account, and retaining receipts and bank statements. Guardians should also track bond premiums and, for larger estates, adopt prudent investment practices aligned with court directives. Misuse of funds can result in restitution, fines, or criminal exposure. When a guardian resigns, a verified final account is required, the court reviews the submission at a hearing, and a successor guardian posts bond and takes an oath before accessing funds, preserving continuity of payments and safeguarding the ward.

Local probate courts in Houston provide checklists and forms that outline steps from notice to orders, which promotes uniform practice across cases. With structured processes and ongoing judicial oversight, guardians can manage financial responsibilities with clarity and compliance. Legal guidance helps align daily banking activity with court requirements, limits delays in approvals, and supports timely, accurate reporting.

About The Law Office of Whitney L. Thompson, PLLC:

The Law Office of Whitney L. Thompson, PLLC is a Houston-based firm led by Whitney L. Thompson that serves clients in guardianship, estate planning, probate, and elder law. The firm advises families across Houston and surrounding Texas communities on protective arrangements for vulnerable adults and minors, including guardianship of the person and the estate. Services include inventories, accountings, court filings, and tailored planning documents. For consultations or additional information, contact The Law Office of Whitney L. Thompson, PLLC at (281) 214-0173 or visit the firm’s website to schedule an appointment.

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Company Name: The Law Office of Whitney L. Thompson, PLLC
Contact Person: Whitney L. Thompson
Email: Send Email
Phone: (281) 214-0173
Address:4201 Farm to Market 1960 Rd W Suite 360
City: Houston
State: Texas 77068
Country: United States
Website: https://www.wthompsonlaw.com/