Tuesday, April 15, 2008

Raise the Ceiling

North Carolina's House Bill 794, entitled "Raise the Ceiling/Personal Property Sale/Guardianship", proposes increasing the limit from $1500 per reporting period of the guardianship to $15,000 per reporting period for the value of personal property that can be sold without court order from a ward's estate.

17)a. Without a court order to lease any of the ward's real estate for a term of not more than three years, or to sell, lease or exchange any of the ward's personal property including securities, provided that the aggregate value of all items of the ward's tangible personal property sold without court order over the duration of the estate shall not exceed one thousand five hundred dollars ($1,500) .fifteen thousand dollars ($15,000). When any item of the ward's tangible personal property has a value which when increased by the value of all other tangible personal property previously sold in the estate without a court order would exceed one thousand five hundred dollars ($1,500), .fifteen thousand dollars ($15,000).

(14)a. Without a court order to lease any of the ward's real estate for a term of not more than three years, or to sell, lease or exchange any of the ward's personal property including securities, provided that the aggregate value of all items of the ward's tangible personal property sold without court order over the duration of the estate shall not exceed one thousand five hundred dollars ($1,500) .fifteen thousand dollars ($15,000). When any item of the ward's tangible personal property has a value which when increased by the value of all other tangible personal property previously sold in the estate without a court order would exceed one thousand five hundred dollars ($1,500), .fifteen thousand dollars ($15,000).

Source: General Assembly of North Carolina - House Bill 794

2 comments:

Anonymous said...

So what else is new?

When the problems with NY guardianship hit the media in 2001, the chief judge set up all kinds of commissions, public hearings, new rules for fiduciaries, and a computer tracking system.

And then she very kindly raised their annual fee cap from $5,000/year to $50,000/year! And they still don't monitor overage!

Anonymous said...

Unlawful and abusive guardianships and conservatorships are destroying families and taking everything a person has lived a lifetime to accumulate. How would you feel if someone could sell 15K of your personal property without your knowledge or consent?