im 17 and a half years old. i have a job and get paid about 200 dollars every 2 weeks. both of my parents are dead so i have a trust fund of about 40,000 dollars for when i turn 18. im wondering if i get emancipated do i still have to wait until im 18 to get the money? i know i have a good case and can become emancipated but i just dont know if i should since im going to be 18 in 6 months. i dont have enough money at this moment to get an apartment or anything and i dont want to have to wait until i have enough. what do i do?
2007-07-27 12:02:35 · 7 answers · asked by tiffany 2 in Politics & Government ➔ Law & Ethics
At your age if you let an attorney know you have $40,000 they will soak you for a large share of it. Can you borrow money for 6 months from a relative? If not, I would suggest you just hang tough and do whatever you are now doing for 6 more months. What the other answer said about you turning 18 before your court date is very true.
When you get your money please use it wisely and just buy necessities. It might sound like a lot of money, but when you start paying rent, utilities, etc. it is really not much. You would qualify for food stamps right now and aid to dependent children if you are in school, but you would need an adult to apply. You didn't give your current living arrangements so it is hard to give you more extensive advice. Please continue your education, you will qualify for grants and loans. Good luck.
2007-07-27 12:16:11 · answer #1 · answered by lcmcpa 7 · 4⤊ 0⤋
Part of the decision the court makes when someone under 18 years of age applies for emancipation they must support themselves and have a place to stay.
If you do not have a place to stay or someone to stay with, they may not grant the emancipation. If you are 17 and a half and you only have six months to go to 18, then what I would do, is wait till eighteen, save money to rent a place between now and then, this way you will not have to use your trust fund for rent.
Also I would start taking courses at a community college and see if you qualify for any scholarship money. I would also apply for student housing and then take student loans out to pay for th portion of tuition that is not covered by the scholarship money.
I also suggest that you consult with your high school guidance counselor.
I hope this helps.
2007-07-27 12:23:30 · answer #2 · answered by bernie 2 · 1⤊ 0⤋
If you start the process right this second you will almost certainly turn 18 before your case is heard. Just save your money and bite the bullet for 6 more months.
Also, remember, $40,000 is not a lot of money. That's about 2 years of poverty level income, depending on where you live. After earning $400 a month this may seem like a lot of money. Don't forget "a fool and his money are ..."
2007-07-27 12:15:01 · answer #3 · answered by Anonymous · 3⤊ 0⤋
The court process to get emancipated will easily take 6 months unless you live out in the middle of nowhere where the courts have nothing to do. So it's probably not worth it.
2007-07-27 12:38:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Stay with whoever you're living with for the next 6 months... the legal process takes ages to happen and you will most likely already be 18 by the time your case is heard.
2007-07-27 12:21:24 · answer #5 · answered by Lily Iris 7 · 1⤊ 0⤋
If your current living situation isnt bad stay there. 6 months isnt that long and u dont wanna spend any of that until u have to.
2007-07-27 12:16:16 · answer #6 · answered by cholly_horse 2 · 1⤊ 0⤋
If you have money, I suggest hiring a lawyer for advice.
2007-07-27 12:05:51 · answer #7 · answered by gotagetaweigh 4 · 1⤊ 0⤋