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Difference between revisions of "When Someone Dies Without a Will"
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When Someone Dies Without a Will (view source)
Revision as of 05:20, 3 March 2019
, 05:20, 3 March 2019→A minor’s share will be paid to the Public Guardian and Trustee
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===A minor’s share will be paid to the Public Guardian and Trustee=== | ===A minor’s share will be paid to the Public Guardian and Trustee=== | ||
If you die without a will, if anyone who is entitled to a share in your estate is not yet 19 years old, [http://canlii.ca/t/52x69#sec153 the law] says their share will need to be paid to the '''Public Guardian and Trustee''. [http://www.trustee.bc.ca/Pages/default.aspx This public body] will become the trustee and will hold a minor’s share in an estate until they’re 19 years old. The child’s parent or guardian would have to apply to the Public Guardian and Trustee for any money needed for things like living expenses or education. This can be a hardship if the child is quite young and the parent or guardian needs the money for day-to-day expenses. | If you die without a will, if anyone who is entitled to a share in your estate is not yet 19 years old, [http://canlii.ca/t/52x69#sec153 the law] says their share will need to be paid to the '''Public Guardian and Trustee'''. [http://www.trustee.bc.ca/Pages/default.aspx This public body] will become the trustee and will hold a minor’s share in an estate until they’re 19 years old. The child’s parent or guardian would have to apply to the Public Guardian and Trustee for any money needed for things like living expenses or education. This can be a hardship if the child is quite young and the parent or guardian needs the money for day-to-day expenses. | ||
When the child turns 19, they can demand all their money — no matter how much it is or whether they are mature or financially responsible. | When the child turns 19, they can demand all their money — no matter how much it is or whether they are mature or financially responsible. | ||
