QUESTION
How could I get my grandmother's insurance settlement?
Asked on Aug 12th, 2015 on Estate Planning - Colorado
More details to this question:
Grandmother has insurance settlement in her own personal account. Her granddaughter is now age 21. Granddaughter wants access to the funds but grandmother refuses.
8 ANSWERS
Thomas Edward Gates
You need to take her to court to get a court order to release the funds.
Answered on Aug 14th, 2015 at 4:35 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
Why would the granddaughter have any right to her grandmother's insurance settlement? I can't see where she would have any claim on the money.
Answered on Aug 13th, 2015 at 5:01 AM
You do not give us all the facts. ?If the grandmother was appointed by the court to hold in an interest bearing trust account money from a settlement with her grand daughter because of an accident, the money should be immediately turned over to her [normally the account ends at age 18]. ?Check with the bank holding the funds if they will release it. ?If she has it in her own account and not a trust account, she has breached the court order and is liable for conversion. ?Point out to her that she is opening herself up to a law suit and perhaps a contempt of court citation.
Answered on Aug 13th, 2015 at 12:33 AM
You don't explain why the granddaughter has any rights to the insurance proceeds. And if she does have an ownership interest in the funds, most people are loath to turn over significant amounts of money to a young adult because they fear the young adult will squander the money on things like cars, clothes, trips, drugs, etc.
Answered on Aug 12th, 2015 at 5:59 PM
Trusts Attorney serving Sacramento, CA
at
Law Office of Victor Waid
Update Your Profile
Unless the settlement proceeds belong to you, grandmother does not have to give you any of the proceeds before she dies.
Answered on Aug 12th, 2015 at 5:59 PM
Commercial Attorney serving Chicago, IL
at
Ashcraft & Ashcraft, Ltd.
Update Your Profile
Was the insurance settlement for the benefit of the Granddaughter? Did the Grandmother receive the funds as in loco parent is of the granddaughter or as custodian, conservator or as guardian for the granddaughter? If so the funds should be the granddaughter's now that the granddaughter is of majority age. Unfortunately, by depositing the funds into a personal account the grandmother claimed the funds as her own. The granddaughter must take action in court to assert her claim over the funds or to seek damages from the grandmother for converting her funds.
Answered on Aug 12th, 2015 at 5:58 PM
Edwin K. Niles
Whose insurance settlement? If the granddaughter's, it would have gone into a BLOCKED acct. if over $5,000, or possible released to gramma if under $5,000. In any event, if it belongs to grdaughter, she should sue in Small Claims Court if under $10,000.
Answered on Aug 12th, 2015 at 5:57 PM
Contact an attorney specializing in these matters before doing anything further.
Answered on Aug 12th, 2015 at 5:56 PM