QUESTION

My daughter , who is a minor, is the primary beneficiary of my wife life insurance . How can I claim it in behalf of my daughter?

Asked on Oct 17th, 2017 on Wills and Probate - California
More details to this question:
N/A
Report Abuse

1 ANSWER

Estate Planning Attorney serving Woodland, CA
Partner at Sonin Law
3 Awards
I gather that your wife has died. I'm so sorry for your loss. You cannot directly claim the insurance. Call the insurance company and see whether they're willing to pay the money into an UTMA account (Uniform Transfer to Minors Account) for her benefit. If they are, they may insist on the money being hers at age 18, even though the law allows later ages to be used. If they are not willing to do this, they may require that a financial guardianship be set up through the court, with annual accountings to the court required. They would then pay the money into that guardianship account. This is why minors should never be named directly as primary beneficiaries of insurance, pensions, etc. If the two of you had set up a trust, it could have provided for a sub-trust for your daughter's benefit, and the proceeds could have been directed to that sub-trust.
Answered on Oct 30th, 2017 at 9:21 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters