What Happens to The Wards of Court Assets and Property?

As soon as the High Court’s President makes an order of bringing a person under its wardship. He appoints a committee to act and take hold on behalf of the ward. The committee further gives the right directions to bring the wards of court’s assets under the court’s control. And then make them readily available for appropriate maintenance and benefit of the ward and its dependents.

Wards of Court Property Handling Details

1. House 

Whenever it is essential to sell a ward’s house to prevent vandalism or nursing home expenses. The committee is rightfully authorized to put the property on the market for sale by the court. However, the sale will be subjected to the court’s approval first. That is so that the benefit of the dependent be evaluated. Later, the net sale proceeds are lodged with the sale papers in the court. Subsequently, the amount is either invested or made available for the benefit and maintenance of the wards of court.

2. Bank accounts 

Generally, such accounts get closed when a person is made a ward of the court through top law firms Dublin. And the proceeds related to these accounts are lodged in the court with legal documentation. The court evaluates the amount present in either bank account and asks the committee to invest it somewhere. The benefit of investment directly goes to the maintenance and expenses of the ward.

3. Commercial Property or Land Farms 

This kind of property is usually let subjected to the court’s approval first. After approval, the income generated from them is allocated to the benefit of wards of court. However, in a few cases, the court may need to authorize a sale of land like a farm. That is mainly to meet the land requirements and nursing home expenses. And, when this is done, some further arrangements are made to make the area a good place of residence.

4. Trust income or pension 

If the person is to be made of court through top law firms Dublin solicitors used to get a pension from the government. Then the High Court’s President may authorize the committee to collect all his such type of income. The collected amount is generally used to maintain the ward’s nursing home expenses. Sometimes, it is invested in a reliable place to get the maximum benefit from such a pension.

Important Note

As you see in all the above-given examples, the court takes hold of all the ward’s assets. And utilize each of them to invest the money and get maximum benefit for the maintenance of the ward’s expenses. However, if the ward of court had itself made a will previously before being mentally incapable. Then the court considers his will, authorizes it, and then takes decisions regarding valuable assets.

Will of Wards of Court

Once a person is declared a ward of court. The court asks the ward’s will to be attached with the affidavit. The affidavit will be verifying the mental health condition of the court, while the will indicates his intentions. A professional solicitor of top law firms Dublin, attach both these are present in the court. The court then retains the will confidentially. That means the court never reveals the content of the will until the death of that ward.

However, upon the ward’s death, an official photocopy of the will is made. That copied will is then taken up by the Executor or Probate Officer. If they both are not involved in the case, it is administered to the estate, referring the entitled person.

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