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Grandmother left money to my minor children

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pridless

Junior Member
What is the name of your state (only U.S. law)? Georgia

My grandmother recently passed away and left a small amount of money to my 2 young children, aged 3 and 2. She did not appoint anyone as a trustee for this money. It's coming from a tax deferred account. I've been told that I can not set up savings accounts for my kids with the money, and I'm having difficulty finding out just what I am allowed to do with this money by law. Can anyone point me in the right direction? Thanks.
 


BlondiePB

Senior Member
From GA Code

§ 53-7-8. (Revised Probate Code of 1998) Support and education of minor heirs and beneficiaries without guardians

Whenever a personal representative has paid all the debts of the decedent and all claims against the estate, and property due minor heirs or beneficiaries for whom no one applies to be guardian is left in the personal representative's hands, the personal representative may, under the direction of the probate court, apply so much of the minor's share of the decedent's estate as may be necessary for support and education as guardians are allowed by law to do.

HISTORY: Code 1981, § 53-7-8, enacted by Ga. L. 1996, p. 504, § 10.
 

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