GUARDIANSHIP OF A MINOR
A Guardianship may be necessary for a minor if he or she inherits or is awarded money or if alternative arrangements need to be made for educational or medical purposes. Typically, the funds are placed in the Monmouth County Surrogate's Intermingled Trust Fund and are held until the minor reaches the age of eighteen. The Guardian can then request permission from the court to use the funds for the minor's needs.
THERE ARE TWO TYPES OF GUARDIANSHIP OF A MINOR
HOW TO APPLY FOR GUARDIANSHIP OF A MINOR
In certain situations, a person under 18 years of age (a minor) may need a guardian, for example, if they receive money through inheritance or from a lawsuit. To become a guardian of a minor's property, a person needs to apply to the Surrogate's Court. When appointed, the guardian will represent the interests of the minor in respect to the minor's property.
SURROGATE'S INTERMINGLED TRUST FUND
The Monmouth County Surrogate's Intermingled Trust Fund comprises hundreds of individual accounts valued at over $20 million. The funds on deposit are invested in institutions insured by the Federal Deposit Insurance Corporation (FDIC) and are accessible only through Superior Court action.
RELEASE OF FUNDS
The funds held for the benefit of the minor, along with any interest earned, will be released to the minor when they reach the age of majority on their 18th birthday or as ordered in the Judgment or as stated in the Last Will and Testament.
THINGS TO KNOW
MAKE CHECKS PAYABLE
Please be advised that checks deposited into the Surrogate's Intermingled Trust Fund must be made payable to:
Surrogate of Monmouth County Intermingled Trust Fund FBO (minors name), a minor
CHANGE OF ADDRESS
You must notify the Monmouth County Surrogate's Office of any change of address via email guardianreporting@co.monmouth.nj.us or by calling the office at 732-431-7330.
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