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The Law Firm of Reed & Mansfield, Attorneys  Personal Injury & Property Damage, Las Vegas, NV

Minor's Inheritance

Occasionally it happens that a minor (child under 18 years of age) inherits in a probate proceeding. How is this handled?

In Las Vegas, the Probate Commissioner has been requiring a Guardianship account to be set up for the minor's money if the minor is to inherit $50,000 or more. Guardianship accounts usually involves a lot of legal fees and annual accountings to the Court. (This is a good reason to have a Trust with a Trustee to handle the minor's money so all of the expense of a Guardianship can be avoided.)

In Las Vegas, the Probate Commissioner will exercise discretion to possibly avoid a Guardianship when the minor inherits under $50,000. The way to avoid the Guardianship is to put the minor's money in a blocked minor's account such that the money can not be withdrawn without a court order, except that when the minor turns 18 the minor, now an adult, can withdraw the money.

Finally, if the minor inherits a share of real estate under a Set-Aside without Administration procedure it may be possible in some cases to award the property to the minor's parent(s), depending on the circumstances of the case.