Protecting a minor’s inheritance requires court supervision. Tennessee law provides procedures to appoint a guardian or guardian ad litem to manage the minor’s interest in an estate.
Detailed Answer
When a minor inherits property or holds an interest in an estate in Tennessee, the probate court must protect the minor’s rights. Under Tennessee Code Annotated (T.C.A.) Title 34, Chapter 1, the court may appoint either a guardian of the minor’s property or a guardian ad litem.
1. Who can petition? Any interested person—such as a parent, executor, beneficiary, or creditor—may file a petition with the county probate court. See T.C.A. § 34-1-101.
2. Contents of the petition The petition must state the minor’s name, age, relationship to the estate, nature and value of the minor’s interest, and the reason a guardian or guardian ad litem is necessary.
3. Notice and hearing After filing, the court sets a hearing date. The petitioner must serve notice on the minor (if over age 10), parents, and other interested parties. At the hearing, the court evaluates the minor’s need for protection.
4. Appointment of guardian ad litem When litigation involves the minor’s interests—such as disputes over distribution—the court appoints a guardian ad litem. This representative advocates solely for the minor’s rights in that proceeding. See T.C.A. § 34-1-104.
5. Appointment of a guardian of property If the court finds the minor needs ongoing management of the estate interest, it appoints a guardian of the property. The order identifies the guardian’s powers—such as collecting assets, investing funds, and making payments for the minor’s benefit. The guardian must post a bond unless waived by the court. See T.C.A. § 34-1-109.
6. Duties and reporting A property guardian must file annual accounts and seek court approval before major transactions. The guardian holds assets until the minor turns 18, unless the court orders earlier distribution under specific circumstances.
Helpful Hints
- Start early: File the petition soon after learning of the minor’s estate interest.
- Provide clear records: Document asset values and estimated expenses.
- Understand bond requirements: Confirm if a surety bond is needed or if interested parties can waive the bond.
- Maintain communication: Keep beneficiaries informed of the guardian’s actions.
- Prepare for annual reports: Compile financial statements for the court review.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance specific to your situation.