How do I get money from an estate that was to be left to a minor?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do I get money from an estate that was to be left to a minor?

A family member passed away and per the Will, I was awarded a check (which I cashed) and then a check for a minor which I was to be beneficiary on the account. I had to obtain the minor’s SSN before taking the check to the bank. Since then I went to deposit it in a joint account but I got a call from the bank saying that it was rejected. They are refusing to pay out and therefore my bank wants to close the account. I tried to call the lawyer but no response. What do I do?

Asked on January 3, 2014 under Estate Planning, California

Answers:

Nathan Wagner / Law Office of Nathan Wagner

Answered 7 years ago | Contributor

You will have to talk to the bank and probably also the lawyer to find out what needs to be done. The problem is probably that you set up the wrong kind of account. Instead of a joint account (where you and the child both own the money) you probably needed a trust account (where you, as trustee, manage the money for the child's benefit but you do not have the right to use the money for your own benefit). Talk to your bank and see if they can deposit the check into a trust account for minors.  


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption