Pretty much the above, can a minor with say, considerable earned assets of his own have a will made, and if not is there any alternative to a will that's possible for a minor?
This will depend on the state. However, most states have age requirements similar to that found below:
California's Probate Code Section 6100:
- (a) An individual 18 or more years of age who is of sound mind may make a will.
One alternative to a will would be a revocable trust with named beneficiaries. There would be adult trustees who would have specified responsibilities for the trust and the trust could specify that its assets are distributed to the minor when he or she reaches the age of majority. Some financial institutions will also act as trustee for a fee.
One can also set multiple conditions on when and how the assets are distributed upon reaching the age of majority. For example, after the subject reaches the age of 18 and creates a last will and testament.