Conference moira::parenting

969.0. "Legal guardianship consequences?" by TUXEDO::FRIDAY (DEC Fortran: a gem of a language) Tue Jun 13 1995 11:24

When my father died he left an insurance policy naming my son Tobias
as the beneficiary.

Since Tobias is a minor, and the amount to be paid out exceeds a
certain amount, Massachusetts law requires the insurance company to
have legal proof that the person to whom they issue the check is a
legal guardian.

This means hiring an attorney and petitioning the court for
guardianship of my own son(!), so I can have a legal document that I
can send to the insurance company.

My wife is wondering if there are any legal "gotchas" as a result of
doing this. For example, she wonders if this procedure somehow has the
potential for undermining her rights as Tobias' mother, especially if
something should happen to me.

Presumably this situation is not too uncommon.  So I'm wondering if
anyone out there has gone through this before, and/or if anyone
knows for certain of any consequences that we need to be aware of.

Thanks in advance

<     <<< Note 969.0 by TUXEDO::FRIDAY "DEC Fortran: a gem of a language" >>>

< Massachusetts law requires the insurance company to
<have legal proof that the person to whom they issue the check is a
<legal guardian.

The way I read this, the adult can be the parent or legal guardian. The only
stipulation being that, as a parent, you still have legal parental rights (you
haven't signed them away to someone else who is the legal guardian or adoptive
parent).

From what I learned when I became my son's legal guardian (in Colorado)
last year and his adoptive parent (in Massachusetts) this year, there doesn't
seem to be *any* advantage to being the legal guardian (in comparison to
being legal parent) and there are a few disadvantages (which don't exist
when you are the legal parent).

    Carol