The Surrogate's Intermingled Trust Fund in made up of hundreds of individual accounts with a value of over 9 million dollars.The funds on deposits are invested in FDIC institutions and are accessible only through Superior Court action.
The parents or legal Guardian of the Minor have the first right to make the application for guardianship.The individual must make application to the Surrogate Court for appointment of Guardian of the minor's property. When a Friendly hearing is held, guardians should appear in the Surrogate's office following the outcome of the hearing.
- Funds that a minor receives as a result of a personal injury claim.
- Funds when a minor is a beneficiary in a Last Will and Testament (unless Trustee is named).
- Funds that a minor is to receive through an intestate estate.
- Funds if minor is a beneficiary of a life insurance policy.
When appointed, the guardian will represent the interests of the minor in respect to the minor's property. The funds held for the benefit of the Minor plus interest earned will be released to the minor upon the Minor reaching the age of Majority on their 18th birthday or as ordered in the Judgment or as stated in the Last Will and Testament.
When the minor applies for release of the funds they must provide the Surrogate Court with the following:
- Original birth certificate
- Copy of a photo ID
- Must sign a Verified Complaint for Return of Securities
- Must sign a Release and Refunding Bond
- Must sign a Child Support Judgment Search Certification