I need to know this: If a girl has two parents who die unexpectedly without having a will, the money goes to her, right?
But she’s under 18.
so a few questions i need answered please:
1. Who gets custody over her since there is no will?
2. Can her new guardian steal her inheritance?
3. If the guardian can steal the inheritance, how can they do it?
First, the probate court will appoint a trustee for the estate. The trustee will make sure that all debts for the parents have been paid. Anything that is left over, as you note, will be put in a trust fund. All transactions from this trust fund have to be accounted for by the guardian/trustee. This should result in a paper trail if the guardian/trustee tries to steal the inheritance.
The guardian will steal her inheritance. She needs to go to a new bank and have the funds transferred over to her name with a copy of the death certificate & her birth certificate, and open up the account in a Trust Format using an EIN # (Not her SSN). She needs to open up a safe deposit box and have the Account papers hidden there. Keep her mouth shut:
If anyone dies without a will, their estate (which is a fancy word for money, house, valuables) will be handled according to the laws of the state in which they lived. The court will appoint a trustee to decide matters of custody of the minor child, paying the debts of the parents, and handling any money to be inherited. If the children are minors, it is often put into a trust for their benefit, and the trustee’s activities are monitored by the court. It is rare that a court would allow someone under age 18 to inherit the money.
The person may also qualify for social security survivor’s benefits.
If this person is someone you know, they really need to get the assistance of a family law attorney. There are lots of important issues to deal with.