Are there any special procedures or documentats required when probating an estate if minor children are named?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Are there any special procedures or documentats required when probating an estate if minor children are named?
All Bank Accounts were POD to me, the executor. There are 4 CD’s (1 for each child), POD to me. The house sold and the equity is sitting in escrow account until probate closes. The children were named in the Will, along with my brother and I as beneficiaries of the bank accounts and the house.
Asked on August 23, 2012 under Estate Planning, Tennessee
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If minor children are named as beneficiaries under a Will, custom and practice is that upon final distribution of the estate's assets that the court issue an order that a specific and trusted adult hold as the custodian the "gifts" to the minor children until they are adults (18 years of age) and do as such.
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.