What happens if one of the heirs is a minor?

In South Carolina, if one of the heirs is a minor, their share of the estate must be handled differently than the other heirs. A court-appointed guardian must be appointed to manage the assets on the minor’s behalf until the minor turns eighteen, or until further orders of the court. The guardian is responsible for preserving and managing the minor’s share of the estate until it is turned over to the minor when they come of age. The guardian is also responsible for filing all necessary documents and accounting for the estate’s assets. This can include keeping records of investments, filing taxes, paying bills, and ensuring that the estate goes to the intended beneficiary once the minor turns eighteen. Depending on the size of the estate, the guardian may need to get professional help from a financial planner or lawyer. The guardian is expected to act in the minor’s best interests. This means that the guardian should make decisions that ensure the minor’s financial welfare, such as investing the money in stocks and bonds to increase the amount of money the minor receives when they come of age. In South Carolina, the court will decide who is best equipped to act as the guardian. In some cases, the court may decide that a close family member should act as the guardian, while other cases may require a professional fiduciary to step in. Ultimately, it is up to the court to decide who is best suited to act as the guardian and ensure that the minor’s share of the estate remains protected until they turn eighteen.

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What happens if one of the heirs is a minor?

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