QUESTION
Grandmother managing my life insurance money.
Asked on Apr 23rd, 2021 on Estate Planning - Florida
More details to this question:
After my father passed away, he left myself a life insurance policy. However, in my fathers will, that life insurance money wouldn’t be paid out to me until i turned 25, I’m 22 at this moment. My concern is whether my grandmother has the ability to anything other than to be a legally good Steward to the policy, after all we have a poor relationship, and I’m afraid she will miss manage the money my father left behind.
1 ANSWER
2 Awards
If she is the trustee, managing the money until you are 22, she has a duty to put your interest first: to save or very conservatively invest the money and not spend it. Whether knowing this will calm your fears is another question.
Answered on Apr 24th, 2021 at 5:10 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.