Legal Question in Insurance Law in New York

In 1984 my father passed and left me as the beneficiary on his life insurance policy. I was 15 yrs old at the time. New York State required the courts to approve any dispursement from this account. My mother went to court with me and borrowed $14,000 to purchase a home for us kids. She signed a court document stating that she would pay this money back with interest the day I turned 18...and never did. I am now 42 yrs old and would like to know my legal rights to get her to pay back this loan. The house went to her 2nd husband in a divorce, so I have no legal recourse on the house.

She is now on social security disability for herself, receives social security from my father's account, workers compensation, and receives a pension from her 2nd husband's retirement account.

Can I garnish any of these accounts to get the money owed to me and my siblings?


Asked on 10/23/11, 3:00 pm

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

There is a six-year statute of limitations, which started running on your 18th birthday. With luck, you can twist it into a ten-year statute, but the case appears quite dead. You appear to have waited too long, but there might be ways to bring the case back to life, as long as your mother acknowledged that she owes you the money at any time in the past six years. It would be nice if it was in writing, but it doesn't have to be written. Hard to prove an oral statement, but not impossible.

I would not take this case except on a fee-for-service basis. Too many problems for a contingent fee. Your mileage may vary. Speak to a lawyer.

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Answered on 10/31/11, 11:23 am


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