![]() |
|
|||||||
| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
![]() |
|
|
|
|
Thread Tools | Search this Thread | Rate Thread | Display Modes |
|
|
#1 |
|
Posts: n/a
|
Becoming Executer of a minor's estate
My two minor children have money left to them from their fathers life insuance policy. The accounts are both 1% interest bearing and I am not able to transfer to another type of investment or account with a higher interest rate until I become the Executor of their Estates. My older son who is 17 would also like to access a portion of his funds to purchase a vehicle before he is 18. How do I go about becoming the Executor of their estates?
|
|
|
|
#2 |
|
Top Level Member
Last Online:
Jul 11th, 2008 12:49 PM Join Date: Mar 2007
Posts: 694
|
Who is responsible now? Who is managing the accounts?
|
|
|
|
|
|
#3 |
|
Posts: n/a
|
Re: Becoming Executer of a minor's estate
I am the legal guardian of both boys. However the life insurance company has put the money into separate 1% interest bearing accounts that are part of their own company. They wrote me a letter stating that I had to become Guardian of their Estates before I could access the monies for them. I want to put the younger boys money into a higher interest bearing account, he is 15 (7-12-91). The other boy is 17 (1-16-90) and wants to purchase a car and invest the rest. I just want to make sure that they can access their money when it is necessary and want the money to earn a higher rate of interest. Also, is 18 the age of dispersment? I wasn't sure if it was 21.
|
|
![]() |
| Thread Tools | Search this Thread |
| Display Modes | Rate This Thread |
|
|
Similar Threads
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Executer acting shady | 4myMom | Wills, Trusts, Estates | 0 | Sep 1st, 2008 01:47 PM |
| Estate or | vlr | Wills, Trusts, Estates | 1 | Mar 18th, 2008 07:46 AM |
| Estate | Road King | Wills, Trusts, Estates | 1 | Jan 29th, 2007 11:36 AM |
| Minor's Privacy vs. Parent's Right To Know | Unregistered | Other Healthcare Law Issues | 1 | Jan 26th, 2007 12:36 AM |
| Estate | B & G | Wills, Trusts, Estates | 1 | Jan 24th, 2007 10:46 AM |