During the estate administration process, money granted to minors must be received in a specific way, according to California law. Specifically, an adult must sign for a child so that the child can receive money.
This process is referred to as a Minor’s Compromise, and below, we’ll answer some common questions about this legal relationship to clarify how it works and how to set one up.
Important Answers About the Minor’s Compromise
Q – Who can sign a Minor’s Compromise?
A – Both parents of a child if they both live with that child. Alternatively, the custodial parent or legal guardian of that child can sign a Minor’s Compromise.
Q – What happens if an estate has appointed a legal guardian for a child?
A – Then that guardian can set up a Minor’s Compromise. If, however, there is no guardianship of the estate, the court can establish one, can transfer the minor’s funds to the county treasurer (under specific conditions), or can transfer the funds into a trust for the minor (and the minor will have the right to revoke the trust when (s)he turns 18).
Q – How do I set up a Minor’s Compromise?
A – The first step will be to obtain and complete the appropriate court forms. This will include (but may not be limited to, depending on your situation):
- The Petition to Approve Compromise of Claim, MC-350
- The Application and Order for Appointing Guardian Ad Litem, CIV-010
- The Order Approving Compromise of Claim, MC-351
- The Order to Deposit Money Into Blocked Account, MC-355
- The Receipt and Acknowledgement of Order for the Deposit of Money Into Blocked Account, MC-356
Q – What are the next steps in the process?
A – Once you have completed the necessary forms, you will then have to file them with the court and pay the appropriate filing fee (which is $435 if there is no other civil action pending).
If the amount of money for the minor is more than $5,000, a hearing will typically be held to review the request (in contrast, there will not be a hearing for sums less than $5,000).
Santa Clarita Estate Planning Attorney at the Law Offices of Darrell C. Harriman
Do you need help with estate planning or estate administration? If so, the trusted Santa Clarita estate planning attorney at the Law Offices of Darrell C. Harriman is here for you.
Since 1980, our San Fernando & Santa Clarita estate planning attorney has been dedicated to providing his clients with personalized, highly responsive service, as well as superior representation for their important legal matters.
Let’s Talk – Contact Us Today
Let’s talk about your case and legal needs today. You can contact our firm by calling (818) 892-7093 or by filling out the contact form on this page.
From our offices based in North Hills, we provide the highest quality legal services to our clients throughout the San Fernando Valley, Simi Valley, Santa Clarita, and the greater Los Angeles area.