Minor child inheriting? – Spendthrift at age 18. Problem # 2
Any legal disabilities preventing a child from having full ownership and use of property disappear on the 18th birthday. The San Diego probate court is no longer needed for protection. The child grew up fast the first day after age 17. Immediately the emancipated person became mature and wise, making only sound decisions in handling assets.
But what if the now adult is still immature, easily impressed and led, spends money foolishly, or has a drug or alcohol problem? Or decides not to stay in school and not get a job?
And what if the parents (now deceased), would never have consented to their child having control of the money at 18? It is too late.
How can you avoid the above problem? While you have the chance, make a living trust. See blog entitled: