QUESTION
Can I open a guardian account at the bank if my son was given inheritance money from his grandparents in NY?
Asked on Sep 29th, 2012 on Estate Planning - Florida
More details to this question:
The estate lawyer in NY does not know of Florida laws but said he read online that anything over 15,000.00 has to go thru court and the court will give someone guardian of the money. I don’t understand. I’m his mother. He said he don’t think the banks in Florida will do it.
1 ANSWER
If the probate is in Florida, then the personal representative cannot give the money to your son more than $15,000 directly; a guardianship matter in the probate court must be opened, unless the grandparents provided some other form of distribution, i.e. in some form of a trust account.
Answered on Oct 01st, 2012 at 9:45 PM