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
A:
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
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
