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<p class="MsoNormal">I am tempted to say that the insurance company is trying to make it easy for you, and you should go along. Why fight? This might be the first time in history that a life insurance company is trying to make things easy.<o:p></o:p></p>
<p class="MsoNormal">But be careful of the possible liability. First, who do you represent? Second, what happens if the parents abscond with the money? Will someone (the child) point the finger at you? Perhaps a professional fiduciary might be better.
With a bond.<o:p></o:p></p>
<p class="MsoNormal">How much money is involved? If it is a small amount, the answers might be different than if it is a large amount.<o:p></o:p></p>
<p class="MsoNormal">Phil Jones <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div dir="ltr" style="mso-line-height-rule:exactly;-webkit-text-size-adjust:100%;font-size:1px;direction:ltr;"><table dir="ltr" cellpadding="0" cellspacing="0" border="0" style="width:100%;direction:ltr;border-collapse:collapse;font-size:1px;"><tr style="font-size:0;"><td align="left" style="vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="width:100%;border-collapse:collapse;font-size:0;color:#000001;font-style:normal;font-weight:400;white-space:nowrap;"><tr style="font-size:0;"><td align="left" style="vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;font-size:0;color:#000001;font-style:normal;font-weight:400;white-space:nowrap;"><tr style="font-size:16px;"><td align="left" style="padding:20px 0 0;vertical-align:top;font-family:Calibri;">Philip N. Jones<span style="font-family:remialcxesans;font-size:1px;color:#FFFFFF;line-height:1px;"><span style="font-family:'template-Ij3tRfheEeqW9QANOhMLNA';"></span><span style="font-family:'zone-1';"></span><span style="font-family:'zones-AQ';"></span></span> </td></tr></table></td></tr><tr style="font-size:16px;font-weight:700;"><td align="left" style="vertical-align:top;font-family:Calibri;">BLACK <span style="color:#FF0000;">|</span> HELTERLINE LLP<br /></td></tr><tr style="font-size:16px;"><td align="left" style="vertical-align:top;font-family:Calibri;">805 SW Broadway, Suite 1900<br /></td></tr><tr style="font-size:16px;"><td align="left" style="vertical-align:top;font-family:Calibri;">Portland, OR 97205<br /></td></tr><tr style="font-size:0;"><td align="left" style="vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;font-size:0;"><tr style="font-size:0;"><td align="left" style="padding:1px 0 0;vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;font-size:0;color:#000001;font-style:normal;font-weight:400;white-space:nowrap;"><tr style="font-size:0;"><td align="left" style="padding:1px 0 0;vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;font-size:0;color:#000001;font-style:normal;font-weight:400;white-space:nowrap;"><tr style="font-size:16px;"><td align="left" style="vertical-align:top;font-family:Calibri;">503.417.2163</td><td align="left" style="vertical-align:top;font-family:Calibri;"> (d)<br /></td></tr></table></td></tr><tr style="font-size:16px;"><td align="left" style="padding:1px 0 0;vertical-align:top;font-family:Calibri;">503.224.5560 (p)</td></tr><tr style="font-size:16px;"><td align="left" style="padding:1px 0 0;vertical-align:top;font-family:Calibri;">503.224.6148 (f)<br /></td></tr><tr style="font-size:16px;"><td align="left" style="padding:1px 0 0;vertical-align:top;font-family:Calibri;"><a href="http://www.bhlaw.com/" target="_blank" id="LPlnk689713" title="bhlaw.com" style="text-decoration:none;color:#000001;">www.bhlaw.com</a></td></tr><tr style="font-size:16px;"><td align="left" style="padding:1px 0 0;vertical-align:top;font-family:Calibri;"><a href="http://philip.jones@bhlaw.com/" target="_blank" id="LPlnk689713" style="text-decoration:none;color:#000001;">philip.jones@bhlaw.com</a></td></tr></table></td></tr></table></td></tr><tr style="font-size:0;"><td align="left" style="vertical-align:top;"><table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;font-size:0;color:#000001;font-style:normal;font-weight:400;white-space:normal;"><tr style="font-size:16px;"><td align="left" style="padding:20px 0 0;vertical-align:top;font-family:Calibri;">Black Helterline LLP Confidentiality Notice: <br />This e-mail is for the intended recipient and should not be read by or distributed to anyone else. If you are not the intended recipient, please notify me via return e-mail (or call me collect at 503.224.5560), delete this e-mail and destroy any hard copies.<br /></td></tr></table></td></tr><tr style="font-size:1px;color:#FFFFFF;"><td align="left" style="vertical-align:top;font-family:Calibri;">Philip N. Jones.nosig<br /></td></tr></table></td></tr></table></div><div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Ryan Castle<br>
<b>Sent:</b> Monday, November 4, 2024 10:25 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Life Insurance Minor Beneficiary Issue<o:p></o:p></p>
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<p class="MsoNormal">All,<o:p></o:p></p>
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<p class="MsoNormal">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.<o:p></o:p></p>
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<p class="MsoNormal">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?<o:p></o:p></p>
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<p class="MsoNormal">Thanks for your help!<br clear="all">
<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span class="gmailsignatureprefix">-- </span><o:p></o:p></p>
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<p class="MsoNormal">Ryan Castle (he/him)<o:p></o:p></p>
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<p class="MsoNormal">Castle Law Firm, PLLC<o:p></o:p></p>
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<p class="MsoNormal">Managing Attorney<o:p></o:p></p>
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<p class="MsoNormal">T: 360-685-4260 <o:p></o:p></p>
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<p class="MsoNormal">F: 360-524-6838<o:p></o:p></p>
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<p class="MsoNormal">1313 E. Maple St., Suite 213<o:p></o:p></p>
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<p class="MsoNormal">Bellingham, WA 98225<o:p></o:p></p>
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<p class="MsoNormal"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__ryancastlelawfirm.com_&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=4kml89WhbjKTTRbFRCT0kSBR3uoa4b7_3EaqjiUBdvE&m=c5qnw8jUb2rX75FqQpzeiFtcLUcERNGbC8RQGVR1x7GWJR7zLQlMi68iY-VpzZpm&s=qK1Ri-Cj1nX6nti_Js3jU_VyVbvj-oLa8si2LfuAsHw&e=" target="_blank">https://ryancastlelawfirm.com/</a><o:p></o:p></p>
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