Legal Question in Wills and Trusts in New Mexico
if my daughter who is under age recieved a settlement would her falther and I be able to use some of it to buy a new house for a better living environment for her and her?
1 Answer from Attorneys
No. The funds must be safeguarded in an interest-bearing account until your daughter attains the age of majority. It is her money, not yours. You don't give her age, but when she reaches 18 she will be legally authorized to make her own decisions about her assets.
If you think you need control of her estate, you need to file a Guardian/Conservatorship proceeding which, if granted, will give you control of the funds to use on her behalf for medical emergencies, education, necessities of life you are not otherwise obligated to provide, etc.
You are her natural, but not her legal, guardians. You are not authorized to expend any of her funds to benefit yourselves.
Seek further advice from a competent attorney who deals in such matters for a full explanation of your rights and obligations.
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