North Carolina General Statutes 35A-1227. Funds owed to minors
Terms Used In North Carolina General Statutes 35A-1227
- Devise: To gift property by will.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Inter vivos: Transfer of property from one living person to another living person.
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
(a) Certain insurance proceeds or other funds to which a minor is entitled may be paid to and administered by the public guardian or the clerk as provided in N.C. Gen. Stat. § 7A-111
(b) A devise of personal property to a minor may be distributed to the minor’s parent or guardian with the approval of the clerk as provided in N.C. Gen. Stat. § 28A-22-7.
(c) A personal representative or collector who holds property due a minor without a guardian may deliver the property to the clerk as provided in N.C. Gen. Stat. § 28A-23-2.
(d) Inter vivos or testamentary transfers to minors may be made and administered according to the North Carolina Uniform Transfers to Minors Act, Chapter 33A of the N.C. Gen. Stat.. (1987, c. 550, s. 1; 1989, c. 473, s. 23; 2011-284, s. 37.)