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You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies. The significant exception to this rule is trusts.
Continue reading → The post Minor Child as IRA Beneficiary: Requirements appeared first on SmartAsset Blog. If you want to leave your individual retirement account (IRA) to your grandchildren ...
Leaving an IRA to a minor was often done in the past because it allowed beneficiaries to stretch distributions for the remainder of their life expectancy.
The mature minor doctrine is a rule of law found in the United States and Canada accepting that an unemancipated minor patient may possess the maturity to choose or reject a particular health care treatment, sometimes without the knowledge or agreement of parents, and should be permitted to do so. [1]
Children's rights or the rights of children are a subset of human rights with particular attention to the rights of special protection and care afforded to minors. [1] The 1989 Convention on the Rights of the Child (CRC) defines a child as "any human being below the age of eighteen years, unless under the law applicable to the child, majority is attained earlier."
A minor could be held liable for a contract for the purchase of luxury items (those that are not in the financial/social/standard of living range). Ratification – accepting and giving legal force to an obligation. Express ratification (for a minor) is expressly stating, orally or in writing that he/she intends to be bound by the contract.
Trustees may be held to a high standard of care in their dealings to enforce their behavior. To ensure beneficiaries receive their due, trustees are subject to ancillary duties in support of the primary duties, including openness, transparency, recordkeeping, accounting, and disclosure. A trustee has a duty to know, understand, and abide by the ...
An emancipated minor does not simply acquire all rights of an adult; likewise, a child does not lack such rights merely because they are not emancipated. For example, in the US minors have some rights to consent to medical procedures without parental consent or emancipation, under the doctrine of the mature minor .