I was a minor beneficiary on an insurance policy and it was cashed by my mother whom i had no relations with is this legal?
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I was a minor beneficiary on an insurance policy and it was cashed by my mother whom i had no relations with is this legal?
The policy was left to me by my Grandfather who had custody of me. My mother took the policy and opened a bank account with my name on it as the minor on the account and deposited ym check and withdrew all of the money iwas told by the insurance company that an insurance policy is not allowed to be held and someone had to take it and put it in an account for me. Did the bank or my mother have authorization to cash this check and should i take legal action towards the bank the insurance company and my mother? What are my rights?Thank you
Asked on May 19, 2009 under Insurance Law, Maryland
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Without knowing more about the situation, it's hard to give you a very definite answer. You should talk to an attorney in your area about this, as soon as possible, because you may need to act quickly, depending on when this happened. One resource, for finding the lawyer you need, is our website, http://attorneypages.com
The basic rule of law is that while you are a minor, your parent or parents have control of your assets. However, depending on the detailed facts of your case, possibly including whether the money was used for your benefit at all, you might be able to do something about this.
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