Legal Question in Wills and Trusts in California

My daughters (ages 8 and 9) were named as beneficiaries for my deceased mother's insurance. The funds (each under $10K) are now held in a minor's money market account. As legal guardian, what do I have to do to have access to these funds and liquidate the account? I would like to invest the money for them and earn more than the .05% the money market yields for the next 9-10 years.


Asked on 1/05/10, 11:28 am

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

You have to have the Court appoint you as guardian ad litum and petition the Court for the change. The court wil be very conservative as to what investment you can make. A Government bond would be acceptable.

Read more
Answered on 1/10/10, 2:09 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in California