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22 0 Application to Settle a Minor's Claim Allen County Form

22 0 Application to Settle a Minor's Claim Allen County Form

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Today's question comes from Kenosha Wisconsin and the writer asked the following when a minor is receiving money from an estate what law says it has to be put in a trust my children are heirs to my aunt's estate and each will receive $8,000 each okay so in general in Wisconsin a minor which is defined as anyone under age 18 cannot legally inherit property so the inherited property must either be held in a trust or placed in an UTMA account UTMA stands for a uniform transfer to minors act until that person reaches the age of 18 which is the age of majority in Wisconsin under Wisconsin law it's possible that you could hold assets in an UTMA account until age 21 that's the latest if the person who set up the will that way or Trust says they want it held until 21 you can hold it until 21 in an UTMA account if you want to hold property for someone longer than age 21 then you need to set up your own trust to do this and if you use a trust you can choose whatev

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