Can a minor child be a beneficiary of an asset in an estate?

The answer is yes. However, the problem is a minor child cannot receive the funds or property directly. A probate court will force the creation of an entity, or account, to receive the proceeds on behalf of the child. If the value of real or personal property, not cash, to be received by the minor child is under $100,000, a court will, at the minimum, force the parents to apply to the court for permission to sell the property on behalf of a minor child. This can be done without having to obtain a Guardianship of the Estate of the minor child. However, this will still incur legal fees.

If a minor child is going to receive a life insurance policy, or other type of cash account, worth $100,000 or less, the lowest cost legal alternative to be completed so that the child can receive the funds would be to setup a sequestered account in the clerk