Friday, February 26, 2010

Wife died leaving child as sole beneficiary trying to buy house dont have cash to get conservator bond ?

child inherited over 125,000 only need around 25,000 for down payment and things that my family needs now cant afford to pay money out need help now daughter is 14 is there any i can get this help without paying money for money thats already hersWife died leaving child as sole beneficiary trying to buy house dont have cash to get conservator bond ?
My only question is: Whose name is going to be on the deed to the house? If the child's money is going to be used for the 20% down payment ( $25K is 20% of $125K), then the child should have an ownership interest reflected on the deed of 20%.Wife died leaving child as sole beneficiary trying to buy house dont have cash to get conservator bond ?
That money is in trust for the 14 yr old. Only the trustee can make the determination.
I would say your wife left the money to your daughter for a reason .

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