[WSBAPT] UTMA

[James B. Dolan]

Hello:

 

Insurance company is demanding that a guardian be appointed for a 17 year
old son of decent in order to receive $50,000 payout from life insurance
policy.  (We already have a probate GAL, but do not want to go through a
guardianship proceeding just for this purpose, as son will be 18 in ten
months.)

 

I'm hoping for a quick answer before reading through the statute: Can anyone
offer a quick opinion - are UTMA transfers/accounts limited to $25,000, as
per the insurance company?

 

Thanks in advance,

 

Jim Dolan 

 

===================

 

Jones Butler Dolan, PS

 <http://www.jbdolan.com> www.jbdolan.com

 <http://www.jonesbutlerdolan.com> www.jonesbutlerdolan.com

 

Mount Vernon

 

P.O. Box 2784

415 Pine Street 

Mount Vernon, WA 98273

Telephone: 360-336-2939

Facsimile: 360-336-2949

 

Stanwood

 

P.O. Box 458

10027 - 269th Place NW (SR 532)

Stanwood, WA 98292

Telephone: 360-629-3833

Facsimile: 360-629-6253

 



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