Disclaimer: This article provides general information under Idaho law. It does not constitute legal advice. Consult a licensed attorney for guidance on your specific situation.
Detailed Answer
When a person dies without a valid will in Idaho, they die “intestate.” Idaho Code Title 15, Chapter 2 governs intestate succession and designates heirs. If one of those heirs is a minor, the court must take special steps to protect the minor’s inheritance until they reach legal age.
1. Appointment of a Personal Representative
Under Idaho Code § 15-3-101 et seq., the probate court appoints a personal representative to collect estate assets, pay debts, and distribute any remaining property. The personal representative identifies all heirs, including minors, and reports their shares to the court.
2. Guardianship or Conservatorship of the Minor’s Estate
When a minor inherits, Idaho Code Title 15, Chapter 5 requires the court to appoint a guardian or conservator of the minor’s estate. The guardian files a bond, manages funds strictly for the minor’s benefit, and submits annual accountings to the court.
See Idaho Code § 15-5-101 et seq.
3. Establishing a Custodial Account under UTMA
The personal representative or guardian can transfer the minor’s inheritance into a custodial account under the Idaho Uniform Transfers to Minors Act. The custodian holds and invests the assets until the minor turns 21 (or an age set by the transfer instrument), at which point the custodial property vests in the beneficiary.
See Idaho Code § 15-6-101 et seq.
4. Court-Supervised Minor’s Trust
Alternatively, a court-supervised trust may hold the inheritance for the minor. Under Idaho Code § 15-6-104, a trustee manages the trust assets under court oversight until the minor reaches a designated age. This option can provide customized distribution schedules beyond the UTMA default.
Helpful Hints
- Initiate probate promptly: Idaho law requires filing within 30 days after learning of the death.
- Select a trustworthy guardian or custodian: The court prioritizes the minor’s best interests.
- Consider a trust instrument: A trust can tailor distributions to educational or health needs.
- Maintain clear records: Guardians and custodians must file regular accountings and receipts.
- Seek professional advice: An attorney can guide you through probate, guardianship, and UTMA processes.