Protecting a Minor’s Inheritance Under Kansas Intestacy Law
Detailed Answer
When someone dies without a will in Kansas, intestacy rules under K.S.A. 59-602 determine who inherits. If an heir is under 18, the court must safeguard their share. Key steps include:
- Open a Probate Case. A petitioner (often a surviving parent or relative) files in the county probate court. The court identifies heirs and appoints an administrator under K.S.A. 59-307.
- Appoint a Guardian of the Estate. The court assigns a guardian to manage the minor’s assets. Guardians must invest prudently and file regular reports (K.S.A. 59-313 to 59-325).
- Use the Kansas Uniform Transfers to Minors Act (UTMA). A custodian can hold assets in a UTMA account until the minor turns 21. This process avoids full guardianship and speeds distribution. See K.S.A. 38-1301 et seq..
- Consider a Minor’s Trust. The administrator may create a trust under K.S.A. 59-3016 to define distribution ages and conditions.
- File Inventory and Reports. Guardians must file an inventory of assets, annual accountings and a final report to ensure transparency and compliance with court orders.
Helpful Hints
- Act quickly. Delays can reduce asset value and complicate filings.
- Collect financial records: bank statements, deeds and investment documents.
- Consult a probate attorney early to navigate court procedures.
- Keep detailed records of all transactions and communications with the court.
- Compare UTMA accounts versus guardianship costs; UTMA often lowers supervision fees.
Disclaimer: This article provides general information and is not legal advice. Consult a qualified attorney for guidance specific to your situation.