Q: My mother in law recently passed away and has left my daughters some funds from her estate.
The executor wants me (father) to attain a statement or p.o.a. so that I will receive the money and manage it as well.What do I need to do? My daughters are 18 and 16.
A: The 18 year old is as legally capable of receiving the money as she is of naming you her agent under a Durable Power of Attorney.
The 16year old is legally capable of neither. Her inheritance should be paid into a Uniform Gift to Minors Trust at a bank (up to $35,000), an interest-bearing account in the court registry (up to $100,000) or a court-created trust (larger amounts).
Isaac Shutt agrees with this answer
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