Legal Question, who gets the money?

Ok so my boyfriend just died last nite, and i've looked everywhere for this answer but couldnt find it. My boyfriend put my name on his life insurance and his stocks and CDs...so i legally own all of that...but the fact that im not legally an adult, do i still get that money or does his parents get it? i'm really confused about that because he told me that if anything ever happened to him that i would be ok, that i wouldnt have to worry about anything, but my dad told me that he didnt know the answer and his family isnt working with me to find the answer, PLEASE HELP!!!
Additional Details
We live in minnesota

jslinderml

Without knowing the state you live in makes this a little trickier, so I will go with general answers.

Anything in your name will most likely need to be placed in trust for you until you turn 18. The executor of his estate (his dad if no will) will be responsible for that, the costs of such paid out of your inheritance. (I'll assume the beneficiary rules of the particular investments and policies allow for minors to receive).

Anything not assigned to you (assuming no will) will most likely default to his father (again, state laws may vary). If there is a will, that will address the disposition of all assets.

If there is no will, in this case you (and/or his Dad) should consult a probate lawyer. Also be aware that if his Dad is the executor, he might be able to challenge some of the inherited items depending on how it is done.

Mr Placid

If you are named as beneficiary of those accounts, and that life insurance policy, then the money is yours. Period. End of story.

However, you do not get to "touch" the money until you are 18. It will be kept in trust until you turn 18.

You may want to contact the companies that hold the assets. Some companies, particularly the life insurance company, may act is trustee of the monies for you, and distribute the proceeds to you when you turn 18. Other companies may insist that a court appoint a trustee to act on your behalf.

If you encounter any problems, consult an attorney.

grammy

you may have to hire a lawyer to get your answers. Parents die and their kids get what is left to them even if they are under age I would think if it is in a will you are going to get what he wanted you to have (or on the insurance policy) give his parents a little time you stated he just died you all are not ready to go about figuring out this kind of thing

Jennifer W

I think that would depend on whether or not his parents created these funds for him and whether or not he was an adult at the time of death. Not to worry though, if either of you attempt to fight for it, the majority will be eaten up in legal fees, and just so you know everything willed to you is taxed, so I'd say the lawyers and government will end up with this money. It would be best if you and his parents could reach some type of agreement without getting lawyers involved. Sorry. ;-)

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