The juvenile court may deny a petition to establish a trust for the benefit of a minor as provided in this part; provided, that the court issues an order to that effect within fourteen (14) business days after receipt of the petition. The juvenile court clerk shall return the award to the division accompanied with the order. Upon receipt of the order, the division shall turn the award over to the clerk of the court having probate jurisdiction in the county where the minor resides. The award shall be accompanied with a petition and order directing the clerk to set up a fund for the minor as provided herein. The court shall accept jurisdiction of the trust and shall have all of the rights, duties and obligations as a juvenile court is required or authorized to perform under this part.