Addison Cooper 2022-12-20T05:28:36+0000

When deciding how to pass on assets to your heirs, it’s important to consider where minor children fit in. Child inheritance laws generally prohibit children from inheriting land, real property or other assets if they’re under 18.

Depending on probate and inheritance laws in your state, it’s even possible to exclude children from inheriting any of your wealth regardless of their age. But if you do want to make sure your children are taken care of financially if something should happen to you, there are some things you can do to provide for them in your estate plan. If you’re fleshing out your own estate plan, you may want some help from a financial advisor.

Children can inherit property or assets from their parents, grandparents or other relatives but they’re not always first in line to inherit. In other words, there’s no automatic assumption that if a parent dies their child will inherit all of their assets.

Generally, children can inherit any assets in your estate that have not already been designated for someone else. So, children may inherit things like:

• Bank accounts

• Real estate

• Land

• Vehicles

• Investment accounts

• Personal belongings

However, state laws typically prohibit children from holding property or other financial assets in their name if they’re not age 18 or 19, whichever is the age of majority in their state.

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