Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a licensed attorney in Massachusetts for guidance specific to your situation.
Detailed Answer
When someone dies without a will in Massachusetts, the estate passes through intestate succession under Massachusetts General Laws Chapter 190B. According to MGL c. 190B, §2-102, property of a decedent who dies intestate passes to surviving lineal heirs. If there is no surviving spouse, the entire estate goes to the decedent’s children under MGL c. 190B, §2-105. Minors inherit their share but cannot legally manage property until they reach age 18.
Appointment of a Guardian of the Estate
To protect a minor’s inheritance, the Probate and Family Court can appoint a guardian of the minor’s estate. Under MGL c. 190B, §5-302, any interested person may petition for guardianship. The court issues letters of guardianship once it confirms the guardian’s fitness. The guardian must post a bond under MGL c. 190B, §5-303 and file an inventory of assets and periodic accountings per MGL c. 190B, §5-304.
Using the Uniform Gifts to Minors Act (UGMA)
A custodial account under the Massachusetts Uniform Gifts to Minors Act (MGL c. 203) provides another option. A custodian holds and manages the funds on behalf of the minor until age 18 (or up to 25 if the account document permits). The custodian must use the assets solely for the minor’s benefit without court supervision or bond requirements.
Blocked Accounts and Court Registry
The Probate Court may also order that a minor’s share be held in a blocked account or the court registry until the minor reaches age 18. This approach secures funds without requiring a full guardianship proceeding.
Helpful Hints
- File a guardianship petition promptly to avoid delays in distributing the minor’s share.
- Gather detailed records of estate assets, including bank statements and real estate valuations.
- Compare guardianship costs and oversight with those of a UGMA custodial account.
- Maintain clear transaction records and file annual accountings if acting as a guardian.
- Consult Probate and Family Court personnel or a probate attorney for procedural guidance and court forms.