PLEASE HELP??? This depends on my future!?

Question

My father passed awawy on 11/7/07 and I'm 12 he had a liife insurence policy for about 1,000,000 dollars but our lawyer talked to the judge and she is not letting us touch the money and my father would pay a lot of my moms bills from child support and we asked to get a monthly amount and they are not giving anything to us plus the judge has only been doing this for 6 months? please help!!!

Answer 1

If minor children are named as beneficiaries, the insurance money would be put in a trust for the benefit of the minors.  The judge is supposed to appoint a legal guardian or trustee who can then petition the court for money from the trust account to pay for the benefit of the children.  Your mom might need to talk with an attorney.  When beneficiaries are minors, the money can not be paid to them directly.  That's one reason people should not name minors as beneficiary of their life insurance.

Answer 2

Yep, a judge can't "give" life insurance benefits to ANYONE.  They don't have the power.  Whoever your father designated beneficiary, that's who gets it.  

Sound like it was you.  And because you're a minor, it's set up as a trust, to pay a monthly amount, until you're a certain age - usually 21 or 25 or such.  It's done that way, so that your guardian can't spend it all at once, like a trip around the world, or a fancy new car.  

This is normal.  You're not going to be able to get your hands on this large amount  of cash.  Sorry.