QUESTION
My neice is suppose to get a lump sum payout from an insurance policy left to her when her dad passed away.
Asked on Jun 11th, 2012 on Trusts and Estates - Tennessee
More details to this question:
The concern is that her mother thinks she may have a drug problem and wanted to try and make this in monthly installments or try to have it held for her until she is 21 or 25 she will be 18 in one month can her mother do anything to avoid her getting all this money at one time she has already been to a rehab facility once and she may be going back she is addicted to painkillers
1 ANSWER
Each state is different but here are a couple of options:
1) file a potion in Court explaining the circumstances and maybe the Judge would order the money to be held. This might be buy conservatorship/guardianship or maybe by a Court ordered trust. This would probably be difficult to get though. or
2) Just hold the money and don't give it to her. Worse thing she can do is sue to get the money released. Of course the trustee would potentially be breaching her fiduciary duty so definitely meet with a qualified estate attorney before taking this type of action.
Answered on Jun 11th, 2012 at 2:06 PM