[WSBAPT] Financial Guardianship - funds left to minor

Thu Feb 13 13:04:20 PST 2014

I had a similar case several years ago with a major insurance company who
simply refused to distribute the policy proceeds to anyone but a
Court-appointed Gdn --- no Trustee, no Custodian, etc.  (Initially, I
obtained a Ct Order ordering the insurance co. to release the funds to
Decedent's testamentary trustee fbo the minor & sent a certified copy of
the Order to the ins. co, who refused to honor it: "Gdn or nothing.")  I
then got the Ct to appt a Gdn for the estate of the minor with a 3-yr
reporting period & sent a certified copy of the Order to the insurance
co., & they finally released the funds.  

On 2/13/2014 10:18 AM, Kokie Adams wrote:

In the only case I have encountered with a similar fact pattern, the
mother of the minor had to apply for a full guardianship (the
ex-husband/father died intestate and estate went to minor daughter).  It
was a drag, but the funds were put into a blocked account and the mother
provided simple guardian reports to the court each year.

Kokie Adams

Purcell & Adams, PLLC

7127 - 196th Street S.W.

Suite 201

Lynnwood, WA  98036

425.774.0444 (phone)

425.771.2711 (fax)

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of G. (Gus) Benjamin
Lindsey III
Sent: Thursday, February 13, 2014 8:03 AM
To: wsbapt at lists.wsbarppt.com
Subject: *** SPAM ***[WSBAPT] Financial Guardianship - funds left to minor

Good morning,

I am wondering if anyone has ideas on the most efficient way of addressing
the below situation.

The PC’s mother died and left ¼ of the proceeds of a life insurance policy
to PC’s daughter, a minor. (The other beneficiaries are all adults.)

There was no probate of the mother’s estate due to its small value.  

The insurance company that has the money sent a letter to the minor
daughter indicating that something called a “court appointed financial
guardianship” or “Financial guardian document” is required to process the
claim. (So far the PC has not been able to determine exactly what is
needed.) I have not seen the letter yet.

I have not dealt with this issue before; is there’s a standard form for
this type of thing? I recall seeing a form down in King County which
allowed a guardian to access financial accounts for an incapacitated
person.  In this case, the PC just wants to put the money in another
account until the child reaches the age of maturity.

Does this require the parent to apply for a full guardianship? The PC
resides in Snohomish County.

Thanks in advance.

Sincerely,

G. (Gus) Benjamin Lindsey III

Attorney-at-Law

The Law Office of G. Benjamin Lindsey III

2012 Grade Road, Suite 202

Lake Stevens, WA 98258

Phone:   (425) 263-9585

website: www.gbl3law.com <http://www.gbl3law.com/> 

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