The administrator of an estate may find it necessary to pay out bequests or inheritances to a beneficiary or heir who is a minor or otherwise incapacitated. One solution is to deposit the funds in the Registry of the Court.
1. The administrator will pay the money to the county clerk, along with a document identifying the beneficiary or heir. . The county clerk will give the administrator a receipt. The county clerk will notify the beneficiary or heir and also the court.
2. The county clerk will report on the funds to the beneficiary or heir annually.
3. The custodian of a beneficiary or heir can withdraw the funds by court order. The custodian must pay a bond of twice the amount withdrawn. The custodian must expend the funds according to the court order. The custodian must account for the funds to the beneficiary or heir.
4. The beneficiary or heir can withdraw the funds upon reaching age or having the disability removed. The beneficiary or heir must apply to the court for an order. The application must prove the beneficiary’s or heir’s identity and credentials. The county clerk will deliver the money according to the court’s order.
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