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Matter of R.J.F.

Guardian Permitted to Deposit Rental Income Into Her Account, Deposit Infant's Share Later

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DECISION AND ORDER

*1 The petitioner, the mother and guardian of the property of the infant, submits this application, as amended, for leave i) to deposit the infant’s pro rata share of the annual rental income derived from a cooperative apartment (the co-op), less the infant’s pro rata share of maintenance therefor and ii) to withdraw a lump sum of $7,500.00 from the infant’s guardianship account. The value of the infant’s property is currently $39,468.29, and the petitioner asserts that the funds sought to be withdrawn are intended as reimbursement for legal fees she has incurred in connection with determining ownership of the co-op and preparation of her account as guardian.The infant’s father died on November 15, 2012, intestate and survived by two minor children, the infant and his sister, as his sole distributees. The decedent and the petitioner owned the co-op shares as tenants in common; thus, the infant and his sister each hold a one-quarter ownership interest in the co-op.The petitioner asserts that the coop was rented from July 15, 2015, to August 1, 2016, at the rate of $2,400.00 per month. On August 1, 2016, the lease was renewed for one year at the rate of $2,435.00 per month. The petitioner asserts that she has deposited the rental income, including the infant’s share thereof, into her personal account. She also asserts that she has paid all monthly maintenance, in the amount of $612.00 per month, from her personal funds.The infant’s share of the rental income for the period from July 15, 2015, to July 31, 2016, is $7,200.00, and for the period from August 1, 2016, through June 13, 2017 (the end of the petitioner’s accounting period) is $7,291.88, for a total of $14,491.88. The infant’s share of the monthly maintenance charges paid for those periods totals $3,672.00. The petitioner initially

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