Legal Question in Wills and Trusts in Massachusetts
Childrens Insurance Money
My husband died in a car accident, we were separated at the time so he named his sister as the beneficiary. The policy was for 40k, the funeral was 7k, so each of the two children was supposed to get 15k. The first child received theirs when they turned 18, years later when the second child turned 18 the child only got 10k, the child was told they would get the rest the following week. That never happened. She is now claiming she has to pay tax on the money so the child wont get the rest. The child is going to college and needs that money, was counting on that money. Is there anything that can be done?
2 Answers from Attorneys
: Childrens Insurance Money
You do not say where or on what document the sister was named as a beneficiary???
Re: Childrens Insurance Money
The proper result in this case will depend on a number of things, including:
1. The status of your marriage at the time of your husband's passing;
2. The terms of your husband's will, if any;
3. The terms of your husband's trusts, if any;
4. The beneficiary status of your husband's insurance policy (it is unclear whether we are talking about an automobile policy settlement or a life insurance policy benefit).
Assuming that sister-in-law was named as the beneficiary of your husband's life insurance policy, she is under no obligation to share any part of it with anyone, including your children.
It is also unclear in what capacity your sister-in-law was holding the money on behalf of your children. For example, was she acting as executor, administrator, trustee, or concerned aunt?
You should gather as much paperwork as you can get your hands on, including any of the above, and bring it to an attorney to see if anything can be done.
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