Q: I need to become my 14 yr old daughter’s conservator.
My daughter has an inheritance named to her from my Mother. It is coming from a Canadian bank in the amount of $5000 CA.
The bank won’t release the funds to my daughter until I gain conservatorship for her bank account. What forms do I need to fill out to do this in Wayne County?
A: A court appointed conservatorship is a lot of effort for CAD$5,000. I would work with the bank to see if there is another option and point out that you are the child's parent. An easier option might be something like a UTMA.
Kenneth V Zichi agrees with this answer
I agree with mr Steiger but would add two things.
1) if your current bank won't work with you, go to a different one!
2) GENERALLY speaking, there are exceptions to conservatorship for assets worth less than US$5000 which this is.
Similarly a trust may be an option. There are LOTS of ways to manage this without a full blown conservatorship which I concur is 'overkill' for this amount of money.
Talk to a local lawyer about this possibility.
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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