The funds of a minor can only be spent on three types of expenditures without prior Court order: (1) the bond premium, (2) Court costs, and (3) income tax on the money of the minor that is being held by the guardian. All other expenditures must be preapproved by the Court. To obtain approval, the guardian files a Petition for Authority To Expend Funds, asking the Court to approve a particular expenditure and attaches any backup documentation, such as the quote for a computer or the brochure for a summer camp. A Financial Statement from the parent(s) should also be attached. Parents are responsible for food, clothing, shelter, and medical care for minors, and the Court will wish to know why the parent is not paying if the expenditure that is being requested is for one of those expenses.
Category
Subcategory (select)
minor