Who has to file a claim on a life insurance of a person if the beneficiary is a minor? How? 11 Answers as of September 21, 2015

My mother just passed away and named my daughter, who is a minor, as a beneficiary on one of her life insurance policies. Who has to claim the life insurance if my daughter does not live with me?

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Law Office of Pamela Braynon | Pamela Y. Braynon
The guardian parent should make the claim to the insurance company on your daughter's behalf. Normally the insurance company will place the funds in a trust account that can either be accessed when the child becomes the age of majority or by the guardian for care and maintenance depending on the policies of the insurance company.
Answer Applies to: Florida
Replied: 9/21/2015
Christine Sabio Socrates Attorney at Law | Christine Socrates
You would need to set up a guardianship of your daughter for her estate so that the insurance company will pay it. If a beneficiary is a minor, they cannot inherit the money outright, it must be held for them until they reach majority. If you are her legal guardian, you can be appointed guardian of her estate and look over the money for her until she reaches 18.
Answer Applies to: Ohio
Replied: 9/16/2015
Law Offices of George H. Shers | George H. Shers
Have your daughter speak to the life insurance company. They will probably want a guardian ad litem appointed by the court for your daughter with the money kept in trust until she reaches the age of 18. Since she does not live with you, the court will likely appoint the parent she does live with as guardian.
Answer Applies to: California
Replied: 9/16/2015
Wellerstein Law Group, P.C.
Wellerstein Law Group, P.C. | Elisha Wellerstein
Her legal guardian. If you and her mother have a custody agreement, it should state who has legal custody of her.
Answer Applies to: New York
Replied: 9/16/2015
Stephens Gourley & Bywater | David A. Stephens
Her parent or guardian. Odds are that the insurance company will require that a guardian be appointed for her.
Answer Applies to: Nevada
Replied: 9/15/2015
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    It depends upon the terms of the policy. The terms will provide if a named person or if a parent may do it. It is possible that it needs to be a court appointed guardian. Speak with the insurance company, ask for documentation if possible. If they are unable to provide documentation you may need to go the court route.
    Answer Applies to: Nevada
    Replied: 9/15/2015
    Ronald K. Nims LLC | Ronald K. Nims
    The minor has the only claim on the proceeds of the life insurance policy. So throw away that brochure for the Mercedes, Dad, you don't get to steal your kid's money and blow it. The insurance company will pay the proceeds to the probate court which will turn it over to her when she reaches 18.
    Answer Applies to: Ohio
    Replied: 9/15/2015
    Minor, Bandonis and Haggerty, P.C.
    Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
    It probably should be the custodial parent. Contact the insurance company (or have the custodial parent contact the insurance company) regarding how.
    Answer Applies to: Oregon
    Replied: 9/14/2015
    Sebby Law Office
    Sebby Law Office | Jayne Sebby
    Usually, a parent or guardian notifies the insurance company, obtains the funds on behalf of the minor, then sets up a trust for the minor and puts the assets in it. Check your mother's will to see if she designated anyone to be the trustee. If not, you should be able to do this on your own. Unless otherwise indicated, the funds may be used for any purpose that the trustee deems reasonable: school expenses, college, trips associated with education (such as a marching band going to a bowl game to perform or a semester abroad), a vehicle, etc. Note that the trustee is going to be held legally responsible for making sure that the funds aren't invested in anything too risky and that the distributions do not benefit the trustee. When your daughter reaches the age of majority, the trust assets are turned over to her unless some provision is made to delay the distribution until she reaches a certain age. This is done to prevent a young adult from squandering the money irresponsibly as soon as she gets her hands on it.
    Answer Applies to: Nebraska
    Replied: 9/14/2015
    Law Offices of Robert H. Glorch | Jeffrey R. Gottlieb
    Unless the amount is very small (under $10,000), then a guardian may need to be appointed to manage the minor's estate. Talk to a probate attorney that does minor's guardianships.
    Answer Applies to: Illinois
    Replied: 9/14/2015
    Law Office of Patricia A. Simmons
    Law Office of Patricia A. Simmons | Patrica A Simmons
    Most insurance companies will not pay out the proceeds until a guardian of the estate has been appointed by the court for the minor. Generally, the parents petition to become the guardian of the estate. Once a guardian of the estate has been appointed for the minor, the court may also impose a bond on the guardian for the value of the insurance proceeds or may order that the insurance proceeds be placed in a blocked account until the minor reaches the age of majority.
    Answer Applies to: California
    Replied: 9/14/2015
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