[WSBAPT] Life Insurance Minor Beneficiary Issue

[Ryan Castle]

All,

I have an issue I have not encountered. The beneficiary of a life insurance
policy is a minor child. Grandma is the deceased who listed her grandchild
as beneficiary. The parents of the minor child were informed by the
insurance company that the child needed to give power of attorney to the
parents in order for the company to distribute funds. This is not a life
insurance trust.

This sounds odd to me. A minor cannot give power of attorney, is my
understanding. Has anyone encountered this issue before? It seems that
proving parentage would be sufficient. The minor is 15. Should the minor
talk to the insurance company and give approval for disbursement? What does
the insurance company really need? Should the parents set up an
account under the UTMA? Should they set up a conservatorship or
guardianship in court? What am I missing?

Thanks for your help!

-- 

Ryan Castle (he/him)
Castle Law Firm, PLLC
Managing Attorney
T: 360-685-4260
F: 360-524-6838
1313 E. Maple St., Suite 213
Bellingham, WA 98225
https://ryancastlelawfirm.com/
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