Legal Question in Wills and Trusts in Florida

What if minors are the benficiaries?

My ex-wife was killed in a car accident and she has a very small estate but she does have a decent sized life insurance policy with our 2 children (who I have custody of and always have had)being named the beneficiaries. My ex-mother-in-law is handling the affairs and says the funds have to go to a trust until the kids are 18 and SHE was going to set it all up. If this money rightlfully belongs to my children, how is the money distributed to them and can my mother-in-law do this without my say-so since I am the custodial parent? The trust was her idea and later she said that it is the state law that it go into trust instead of them getting it right away. My ex-wife hasnt paid a penny of child-support for 7 years to me and the money could be of much use for things like health insurance and support for the kids which I will now never receive.


Asked on 1/15/06, 2:24 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: What if minors are the benficiaries?

As father you should be appointed guardian by the court and then named trustee for the children.

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Answered on 1/15/06, 8:46 am
Frank J. Pyle Probate Attorney Throughout Florida

Re: What if minors are the benficiaries?

You must contact an attorney to file to have you appointed guardian of the property of your minor children. Once you are appointed, you have the authority to apply for the insurance proceeds, and any other assets of hers. The court will probably require you to place those monies into separate accounts which you cannot touch without court approval ("depository account"). You can request the court for an "allowance" so you can receive a set amount each month from the guardianship funds, and you can request funds as special needs arise. You will have to account to the court each year for the funds until a child reaches 18, at which point he/she has the right to the monies in his/her guardianship account. There is no trust involved, and thus no trustee involved. You can tell your ex-wife's mother to kiss off. And watch out for David Slater - I hope his answers are not indicative of his legal knowledge, but I am afraid that they are.

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Answered on 1/15/06, 4:58 pm


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