• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
    • News and Events
    • Seniors Rock Radio
  • Estate Planning
    • Elder Law & Medicaid Planning
    • Estate Planning Services
    • Estate and Gift Tax Figures
    • Family Farm Succession Planning
    • Family-Owned Businesses & Farms
    • IRA Planning
      • Planning With An IRA
      • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Elder Law Resources
      • Elder Law Reports
    • Guardianship & Conservatorship
    • Hospice Care
    • Veteran’s Benefits
  • Resources
    • Definitions
    • FREE Estate Planning Worksheet
    • FREE Webinars
    • Estate Administration Legal Guide
    • Estate Planning Articles
      • Questions for Your Estate Planning Attorney Before Creating Your First Estate Plan
      • How to Create Your First Estate Plan in 2022
      • How to Choose a Guardian for Your Child
      • Address These Three Questions in Your First Estate Plan
    • Estate and Gift Tax Figures
    • Frequently Asked Questions
      • Adult Guardianship
      • Alzheimer’s Care
      • Custodial Accounts for Minors
      • Estate Planning
      • FAQs for Families Without an Estate Plan
      • Elder Law
      • IRA & Retirement Planning
      • Is Your Estate Plan Outdated?
      • Legacy Planning
      • LGBTQ Estate Planning
      • Medicare and Social Security
      • Probate
      • Probate Avoidance
      • Irrevocable Trusts
      • Trust Administration
      • Trusts
      • Veterans’ Benefits
      • Wills
    • Newsletters
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Top Estate Planning Techniques
  • Reviews
    • Our Reviews
    • Review Us
  • Medicaid Planning
    • Medicaid Planning
    • Emergency Medicaid & Nursing Home Planning
    • Medicaid Frequently Asked Questions
    • Medicaid Resources
  • Blog
  • Contact Us

Law Office of Michael Robinson, P.C.

Estate Planning Services in Rochester, New York and the Finger Lakes Area

Connect With Us Today

(585) 374-5210
Law Pay Button
Attend a Free Webinar
Home » Estate Planning » What Happens When Children Receive an Inheritance?

What Happens When Children Receive an Inheritance?

February 11, 2011Estate Planning

One aspect of estate planning is providing for the management of an inheritance for your beneficiaries, those who receive inherited property.  So what happens when that beneficiary is a minor child?

If the person leaving the inheritance planned properly, there will be an estate planning tool in place to manage the inheritance until the child reaches a certain age.  Popular tools that are used for this purpose include:

  • Trusts:  Leaving the inheritance in a trust allows an appointed trustee to manage the assets until the child reaches a certain age.  The trust documents may be very specific regarding the distribution of the trust property or they may leave it up to the trustee to be more discretionary in distributing the property.  The trustee does not necessarily need to be a professional, it can be a trusted friend or family member that handles the trustee’s duties.
  • Wills:  Appointing a custodian or guardian for the inheritance within a will allows you to appoint someone of your choosing to oversee the money or property until the child reaches the age dictated by state law.

If the estate plan does not arrange for management of the inheritance by an adult, a probate court will appoint someone to serve as the guardian of the property for the child.

Working with an estate planning attorney gives you not only the information you need to make decisions regarding your estate and inheritances, but the options that can best work for your situation.

  • Author
  • Recent Posts
Michael Robinson, Estate Planning Attorney
Michael Robinson, Estate Planning Attorney
Clients notice Michael Robinson’s unique approach to his estate planning practice the minute they walk through his office doors.
Michael Robinson, Estate Planning Attorney
Latest posts by Michael Robinson, Estate Planning Attorney (see all)
  • Business Succession Planning May Be Easier than You Think - June 1, 2022
  • Estate Planning – Something You Shouldn’t Do Yourself - May 18, 2022
  • Just When You Thought You Understood the 10-Year Rule, Think Again - May 11, 2022

Other Articles You May Find Useful

Business Succession Planning May Be Easier than You Think
Just When You Thought You Understood the 10-Year Rule, Think Again
Let’s Talk about Trusts…and Taxation
What Estate of Marion Levine Means for Life Insurance
Application of the Transfer for Value Rule to the Sale of Life Insurance
estate plan
Estate Planning Basics for Young Parents

Primary Sidebar

Law Office of Michael Robinson, P.C.

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

TESTIMONIALS

A pleasure as always dealing with the entire staff. Always willing to explain the answers to our questions.

- Joseph and Julie Ann M.

Over the years we have been to many programs regarding Estate Planning. We were most impressed with Mr. Robinson’s presentation - both in subject matter and explanation in an understandable manner. We have put our “trust” in his competent hands. We were not aware of the complexity and the volume of paperwork generated for this undertaking. We found his staff to be most capable and client oriented in their knowledge and delivery.

- F.T. & L.T.

Our overall experience was one of thoughtfulness, clarity and comprehensiveness on the part of Michael Robinson, his staff and associates. We attended Michael’s seminar on legacy wealth, and found him to be clear and well-spoken. He touched on all aspects of Estate Planning in which we were interested. Our first of two visits to his office was timely and helpful enough for us to consider developing a plan. We finalized our document at a necessary meeting. His staff was accommodating and virtually spelled out every aspect of the plan. We highly recommended Michael and his system for developing a trust.

- Sharon T.

“From the first visit I was welcomed (like family). The office & girls have all their ducks in order! Very friendly! Mr. Robinson explained everything in detail. 100% satisfied. Will pass the word on. Great Law Firm. Thank you so much.”

- Geraldine P.

Establishing a Family Wealth Trust through the Law Office has been a positive experience, the staff is congenial, patient, thorough, professional and knowledgeable. Thank you for all your kindness. We certainly are comfortable and confident with our decision.

Beverly L.

<
>

News & Events

Seniors Rock Radio Show Recording 5-1-21

https://drive.google.com/file/d/1U7UkQbEGy-xY7XFAXvX9Qz7pKSVDVV3D/view?usp=drive_web   Author Recent Posts Michael Robinson, Estate Planning AttorneyClients notice Michael Robinson’s unique approach to his estate planning practice the minute they walk through his office doors. Latest posts by Michael Robinson, Estate Planning Attorney (see all) Business Succession Planning May Be Easier than You Think - June 1,... Read more →

Pittsford Office

1163 Pittsford-Victor Road, Suite 120 (Powder Mill Office Park)
Pittsford, NY 14534-3817
Phone: (585) 374-5210
Fax: (585) 485-0394

See Larger Map Get Directions

Map

mrobinson_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
robinson law logo

The Law Office of Michael Robinson, P.C.

Attorney Advertisement


© 2022 American Academy of Estate Planning Attorneys, Inc.