[WSBAPT] Financial Guardianship - funds left to minor

[G. (Gus) Benjamin Lindsey III]

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/> 

 

Business Law     Employment Law     Construction Law     Civil Litigation
Estate Planning      Labor Law     

 

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