I’m a minor and my great-grandfather just died a few weeks ago, and left me $10,000 USD. Can I receive the money now?

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I’m a minor and my great-grandfather just died a few weeks ago, and left me $10,000 USD. Can I receive the money now?

I would like too know the ability of my parents and/or grandparents to take my money and put it in a trust or otherwise stop me from getting the money?

Asked on June 9, 2009 under Estate Planning, Washington

Answers:

L.M., Member, California Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Whether you can get the money now or not is determined by the wording of the will or trust.  I'm not a Washington attorney, but in my state (California) and in most states, money left to minors is placed into a trust until they are of legal age.  In some states it is 18, in others, 21.  If it was in a trust, then the trust would spell out when and how you are to receive the money.  If there were no specific instructions, then your parents can place it in a trust or a custodial account until you turn 18 or 21, whichever is the legal age in Washington.  You'll be happy they did, because then you'll have the money to use for college, or to buy a car instead of blowing it now!


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