What happens when an inheritance is left to children?
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What happens when an inheritance is left to children?
My wife is and children were left money from her aunt. To say this has been handled poorly by the estate chairperson in the family would be putting it mildly. They are finally ready to distribute the money but just now informed us we must turn in paperwork in the form of a guardianship so they can distribute the money to the minors. From what I understand it is a conservatorship that is needed. Can this be done with just paperwork or must legal counsel and a legal conservator be obtained on our end?
Asked on July 17, 2014 under Estate Planning, Missouri
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
It is my understanding that in the state of Missouri an attorney must file the Petition in Probate Court for the appointment of a conservator or guardian of the minor child or children. Generally speaking, you as the parents - either of you - are the parent and natural guardians of your child and so you would be the natural appointees. Good luck.
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