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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55326
Experience:  29 years of experience practicing law, including tax and estate planning.
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My son is getting inheritance money. I am the person over

Customer Question

My son is getting inheritance money. I am the person over her estate and trust. It is only 2000.00. she told me what the money is suppose to be used for before she died. Do I need to put this money in account until he is 18.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
Can you provide me a bit more information? Is the money to be used for something now or for something that will happen later? Thanks.
Customer: replied 1 year ago.
verbal conversation was the money is supposed to use to help with education now
Expert:  Richard replied 1 year ago.

Thanks for your quick reply. If he's in private school, then you can apply it to that at this point. If he's in public school, there would be no education cost now so you would need to put it into an account to hold until it can be used for education purposes. In that case, you would want to put it in a uniform gift to minors account for his benefit with you as custodian. You will then have control over the account until it can be used for its intended purpose.

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