Disclaimer: This information is for educational purposes only and does not constitute legal advice.
Detailed Answer
Under South Dakota law, a minor cannot directly manage assets left in an estate. The court must appoint either a guardian of the estate or a guardian ad litem to protect the minor’s financial interests during probate.
1. Who May Petition
Any interested person – including the personal representative, a parent, sibling, or other relative – may file a petition in the circuit court where the estate is administered. The petition should state the minor’s name, date of birth, relationship to petitioner, nature of the assets, and why appointment is necessary.
2. Guardian Ad Litem Appointment
If the court finds a conflict of interest or needs separate representation of the minor in ongoing litigation, it may appoint a guardian ad litem. The court derives this authority from SDCL 29A-14-2. A guardian ad litem investigates facts, files reports, and advocates for the minor during hearings. This role ends when the court’s order concludes or the minor turns 18.
3. Guardian of the Estate Appointment
When the minor’s interest involves managing assets, the court appoints a guardian of the estate under SDCL 29A-14-16. Typical steps include:
- Filing a petition with details of the minor’s inheritance.
- Notice to parents and interested parties as required by SDCL 29A-5-2.
- Hearing where the court assesses the minor’s needs and the petitioner’s fitness.
- Bond Requirement: The guardian must post a bond under SDCL 29A-15-1 unless waived.
- Letters of Guardianship: Issued once appointed, authorizing the guardian to manage assets.
4. Duties and Reporting
The guardian must invest and preserve estate assets prudently and avoid conflicts of interest. Annual accountings and inventories are due under SDCL 29A-14-27. The court reviews these reports to ensure proper management.
5. Termination of Guardianship
Guardianship of the estate ends when the minor reaches age 18 or when the court determines the estate no longer requires supervision. The guardian must then file a final accounting and distribute the remaining assets to the former minor.
Helpful Hints
- Start early: File the petition soon after probate opens to avoid delays.
- Gather documentation: Obtain the minor’s birth certificate and estate valuation.
- Consider local rules: Check your county’s probate procedures and timelines.
- Understand bond costs: Bond premiums vary based on estate value.
- Keep detailed records: Track all transactions to simplify annual accounting.
- Seek professional help: Consult a probate attorney if estate matters become complex.