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First, there is no minimum age for a person to be a beneficiary; however you must understand there is a distinction between ownership and possession of property. There is no minimum age for a person to own property; however the beneficiary must be an adult to be able to possess it. If a will gives property to two children, one under 18, the other over 18, they both have ownership, but only the adult is entitled to ownership at that time. If the beneficiary is under 18, the property he or she gets must be turned over to a duly appointed guardian or parent according to the laws of that state for safekeeping. When the minor becomes andult, the guardian/parent must turn over possession.
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What is the Legal age to inherit property in Virginia?
There is no age limitation. However, if the beneficiary is under the age of 18, the court will appoint a trustee. They will have to report to the court about the trust that is created.
Can a savings account trust have an age at which the beneficiary is entitled to it?
Yes a savings account trust can have an age when a beneficiary is entitled to it. For example, some people maybe entitled to it at age 18. It is best to contact the bank of the savings account to inquire.
Beneficiary how old do you have to be one?
Any age can be listed, but benefit goes to guardian/secondary if under age at time it is awarded.
Can children under the age of 18 be a beneficiary of a life insurance policy in the State of Oklahoma and or can you be forced to list your exwife as the beneficiary in the divorce decree?
You can name you testimentary trust in most cases, but that means you have to have a new will. And the court can still require you to have you ex-wife listed on your life insurance.
How old are you if you are a minor?
either under 21 or 18 depending on which state you live in if your under the age of 18 years of age your concidered a minor if your under the age of 18 years of age your concidered a minor
A child is what age?
Under 18 years old.
Flying under the age of 18?
The rules for children under the age of 18 to fly alone or with supervision varies between airlines. Children under the age of 18 are not required to have an ID, just their boarding passes.
Should it be legal to drink under the age of 21?
I think it should be legal for individuals to drink who are under the age of 21 but not under 18 years of age because persons under the age of 18 are still considered minors but when they reach the age of 18 they are considered to be adults and responsible for their actions.
Is there a curfew in ct for driving under the age of 18?
Its illegal to drive in South Africa, anywhere, under the age of 18
How long will a beneficiary receive payments under the single life settlement option?
Until the insured age 100
How can i get cigerettes if im under age?
There is not a way to get cigarettes if you are under age. The age to buy cigarettes is age 18.
The legal smoking age in Tennessee is 18 can you get a ticket for under age smoking?
Yes if you under 18 The ticket is around 150$
