Disposition of Money or Other Property Where No Guardianship or Conservatorship

Cal. PROB § 3611

California Statutes

In any case described in

Section 3610, the court making the order or giving the judgment referred to in

Section shall, upon application of counsel for the minor or person with a disability, order any one or more of the following: (

a) That a guardian of the estate or conservator of the estate be appointed and that the remaining balance of the money and other property be paid or delivered to the person so appointed. (

b) That the remaining balance of any money paid or to be paid be deposited in an insured account in a financial institution in this state, or in a single-premium deferred annuity, subject to withdrawal only upon the authorization of the court, and that the remaining balance of any other property delivered or to be delivered be held on conditions the court determines to be in the best interest of the minor or person with a disability. (

c) After a hearing by the court, that the remaining balance of any money and other property be paid to a special needs trust established under

Section for the benefit of the minor or person with a disability. Notice of the time and place of the hearing and a copy of the petition shall be mailed to the State Director of Health Care Services, the Director of State Hospitals, and the Director of Developmental Services at the office of each director in Sacramento at least days before the hearing. (

d) If the remaining balance of the money to be paid or delivered does not exceed twenty thousand dollars ($20,000), that all or any part of the money be held on any other conditions the court in its discretion determines to be in the best interest of the minor or person with a disability. (

e) If the remaining balance of the money and other property to be paid or delivered does not exceed five thousand dollars ($5,000) in value and is to be paid or delivered for the benefit of a minor, that all or any part of the money and the other property be paid or delivered to a parent of the minor, without bond, upon the terms and under the conditions specified in

Article 1 (commencing with

Section 3400) of

Chapter 2. (

f) If the remaining balance of the money and other property to be paid or delivered is to be paid or delivered for the benefit of the minor, that all or any part of the money and other property be transferred to a custodian for the benefit of the minor under the California Uniform Transfers to Minors Act,

Part 9 (commencing with

Section 3900). (

g) That the remaining balance of the money and other property be paid or delivered to the trustee of a trust which is created by, or approved of, in the order or judgment referred to in

Section 3600. This trust shall be revocable by the minor upon attaining the age of years, and shall contain other terms and conditions, including, but not limited to, terms and conditions concerning trustee’s accounts and trustee’s bond, as the court determines to be necessary to protect the minor’s interests. (

h) That the remaining balance of any money paid or to be paid be deposited with the county treasurer, if all of the following conditions are met:

(1) The county treasurer has been authorized by the county board of supervisors to handle the deposits.

(2) The county treasurer shall receive and safely keep all money deposited with the county treasurer pursuant to this subdivision, shall pay the money out only upon the order of the court, and shall credit each estate with the interest earned by the funds deposited less the county treasurer’s actual cost authorized to be recovered under

Section of the Government Code.

(3) The county treasurer and sureties on the official bond of the county treasurer are responsible for the safekeeping and payment of the money.

(4) The county treasurer shall ensure that the money deposited is to earn interest or dividends, or both, at the highest rate which the county can reasonably obtain as a prudent investor.

(5) Funds so deposited with the county treasurer shall only be invested or deposited in compliance with the provisions governing the investment or deposit of state funds set forth in

Chapter 5 (commencing with

Section 16640) of Part of Division of Title of the Government Code, the investment or deposit of county funds set forth in

Chapter 4 (commencing with

Section 53600) of Part of Division of Title of the Government Code, or as authorized under

Chapter 6 (commencing with

Section 2400) of

Part 4. (

i) That the remaining balance of the money and other property be paid or delivered to the person with a disability.

Document details

CollectionCalifornia Statutes
CitationCal. PROB § 3611
Date2012-09-22
Typestatute
Languageen
SourceCA_STAT
IdentifierPROB3611.201244057

Disposition of Money or Other Property Where No Guardianship or Conservatorship

Cal. PROB § 3611

California Statutes

Disposition of Money or Other Property Where No Guardianship or Conservatorship

Cal. PROB § 3611

California Statutes

In any case described in

Section 3610, the court making the order or giving the judgment referred to in

Section shall, upon application of counsel for the minor or person with a disability, order any one or more of the following: (

a) That a guardian of the estate or conservator of the estate be appointed and that the remaining balance of the money and other property be paid or delivered to the person so appointed. (

b) That the remaining balance of any money paid or to be paid be deposited in an insured account in a financial institution in this state, or in a single-premium deferred annuity, subject to withdrawal only upon the authorization of the court, and that the remaining balance of any other property delivered or to be delivered be held on conditions the court determines to be in the best interest of the minor or person with a disability. (

c) After a hearing by the court, that the remaining balance of any money and other property be paid to a special needs trust established under

Section for the benefit of the minor or person with a disability. Notice of the time and place of the hearing and a copy of the petition shall be mailed to the State Director of Health Care Services, the Director of State Hospitals, and the Director of Developmental Services at the office of each director in Sacramento at least days before the hearing. (

d) If the remaining balance of the money to be paid or delivered does not exceed twenty thousand dollars ($20,000), that all or any part of the money be held on any other conditions the court in its discretion determines to be in the best interest of the minor or person with a disability. (

e) If the remaining balance of the money and other property to be paid or delivered does not exceed five thousand dollars ($5,000) in value and is to be paid or delivered for the benefit of a minor, that all or any part of the money and the other property be paid or delivered to a parent of the minor, without bond, upon the terms and under the conditions specified in

Article 1 (commencing with

Section 3400) of

Chapter 2. (

f) If the remaining balance of the money and other property to be paid or delivered is to be paid or delivered for the benefit of the minor, that all or any part of the money and other property be transferred to a custodian for the benefit of the minor under the California Uniform Transfers to Minors Act,

Part 9 (commencing with

Section 3900). (

g) That the remaining balance of the money and other property be paid or delivered to the trustee of a trust which is created by, or approved of, in the order or judgment referred to in

Section 3600. This trust shall be revocable by the minor upon attaining the age of years, and shall contain other terms and conditions, including, but not limited to, terms and conditions concerning trustee’s accounts and trustee’s bond, as the court determines to be necessary to protect the minor’s interests. (

h) That the remaining balance of any money paid or to be paid be deposited with the county treasurer, if all of the following conditions are met:

(1) The county treasurer has been authorized by the county board of supervisors to handle the deposits.

(2) The county treasurer shall receive and safely keep all money deposited with the county treasurer pursuant to this subdivision, shall pay the money out only upon the order of the court, and shall credit each estate with the interest earned by the funds deposited less the county treasurer’s actual cost authorized to be recovered under

Section of the Government Code.

(3) The county treasurer and sureties on the official bond of the county treasurer are responsible for the safekeeping and payment of the money.

(4) The county treasurer shall ensure that the money deposited is to earn interest or dividends, or both, at the highest rate which the county can reasonably obtain as a prudent investor.

(5) Funds so deposited with the county treasurer shall only be invested or deposited in compliance with the provisions governing the investment or deposit of state funds set forth in

Chapter 5 (commencing with

Section 16640) of Part of Division of Title of the Government Code, the investment or deposit of county funds set forth in

Chapter 4 (commencing with

Section 53600) of Part of Division of Title of the Government Code, or as authorized under

Chapter 6 (commencing with

Section 2400) of

Part 4. (

i) That the remaining balance of the money and other property be paid or delivered to the person with a disability.

Document details

CollectionCalifornia Statutes
CitationCal. PROB § 3611
Date2012-09-22
Typestatute
Languageen
SourceCA_STAT
IdentifierPROB3611.201244057