Interdiction and Curatorships
An Interdiction is a legal proceeding where someone files with the court to be appointed the legal guardian or curator for an incapacitated person. For example if a husband has a stroke and funds are needed to be taken out of an IRA or 401K of the husband or if a land sale or mineral lease is required to be executed by the husband, someone would have to have the legal authority to do so.
An Interdiction is a Civil Lawsuit
An Interdiction is a civil lawsuit against the individual who is incapacitated. The spouse generally files this lawsuit and the court appoints an attorney to represent the husband. But, it does not always have to be a spouse. The court will generally order a physician to examine and the attorney appointed to represent the husband to personally visit and examine and report back to the court on the condition. A judge would then make a determination whether an individual was incapacitated or not.
Listings of Assets and Liabilities
If someone is determined to be incapacitated, the court will require a filing in the courthouse of a listing of assets and liabilities of the person to be interdicted along with a requirement of a surety bond in the amount of 125% times the value of the assets. A commercial bond is very difficult if not impossible to obtain in today’s current insurance environment. Additionally, annual accounting's are required to be filed by the guardian to explain to the court what money has come in and what money has come out and generally investments made by the guardian must be approved by the court.