Guardians would prepare minors to manage their settlement money

Guardians would ensure minors complete a financial course, have documented contact with a certified financial counselor, and receive a written asset summary. The duties cover guardians managing minors’ settlements under section 21-120, which generally requires a guardian when the net settlement exceeds $3,000. The District’s Department of Insurance, Securities and Banking must offer or approve the course. The court could excuse any requirement for a good reason, including being unable to locate the minor. The duties would take effect after mayoral approval or a Council veto override and a 30-day congressional review period.

Guardians handling covered settlements would document compliance in their final financial report to the court. Failure to meet the requirements would not affect the minor’s right to receive the money and property held by the guardian. The court could hold back up to 2% of the guardian’s commission payment until the required documentation is filed. The court could excuse the underlying requirements for a good reason. Documentation would accompany the final financial report submitted before the guardianship ends.