MS HB725

Guardianships of the person only (without estate) are exempted from creditor notice requirements, need only file reports as often as the court requires, and may close without accounting unless the court orders otherwise

If a guardian of the person receives any assets, the guardianship automatically converts to a guardianship of the person and estate, triggering full reporting and accounting requirements

Courts may close guardianship files for former minor wards who have reached majority if no final accounting is made and the ward does not petition for one by July 1, 2014, or the ward's 22nd birthday, whichever is later

Banks and trust companies serving as guardians may keep vouchers on file rather than submitting them, but must produce them for inspection during banking hours or upon court order

Guardians may receive a minimum commission of $100 per year for services at the time of annual accounting