Although you are the parent, the insurance company will not release funds to any minor child. You will need to either institute Guardianship proceedings, or have the funds placed in the court registry until your child reaches age 18. At that point, the funds will be given directly to your child.
For more information, read our article, The 1 BIG Problem with Designating a Minor as a Beneficiary.
Are You Concerned About The Financial Well-Being And Care Of A Loved One?
If you have a family member or loved one that you want to ensure is taken care of you need to speak with an attorney experienced in the guardianship process. Contact us online or call our Dallas office directly at 214.559.7202.
