Is a mother able to access death benefits received by daughter?
by Anonymous (Florida)
My mother, my daughter and I were in a serious car accident which killed my mother. She had a great insurance policy in which my daughter, 6, was under because she lived at my mother's house. We are currently in a lawsuit.
I'd like to know, if there is any money disbursed into an account for my daughter, would I have access to it? I would like to possibly get us into our own home because right now we live with a friend and I am working two jobs; making enough to pay bills and child care.
Or, if the money is in her name and she is a minor, will it have to be put aside until she is 18? Any general information you can give would be appreciated.
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ANSWER for "Is a mother able to access death benefits received by daughter?":
Florida law requires the court to appoint a legal guardian for minors when a child receives proceeds from a life insurance policy.
The funds of the life insurance policy will be deposited into a trust set up by the court. The court will then appoint a legal guardian who will have power and control over the proceeds. The proceeds may be paid through a structured settlement. The life insurance proceeds meant to go to your daughter will very likely be deposited with the court.
As the parent, you may contact the legal guardian and request certain funds be dispersed when those funds are necessary for the safety and well-being of the child.
However, the legal guardian will be very careful in permitting those funds to be dispersed. The court will scrutinize the dispersion of proceeds. For more information about Florida Guardianship click here.
The above is general information. Laws change frequently, and across jurisdictions. You should get a personalized case evaluation from an attorney licensed in your state. Find a local attorney to give you a free case review here, or call (888) 647-2490.
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