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#541790 - 05/02/06 07:09 PM Benificiary to insurance check is in prison
DinkD Offline
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DinkD
Joined: May 2001
Posts: 117
Georgia
This is a first for me, so I really need some guidance. Sister passes away and leaves her two siblings as benificiary on her insurance policy. One sibling is in prison and will be there for a long time. The other sibling received the check at her house and wants to use the check for the other sibling(in prison) to open up a savings account to cover burial for the one in prison. Can the one sibling get a notarized letter or some other document from the one in prison authorizing the opening of a savings account? Whose name would the account be in? Would a Power of Attorney work? I am desperate for some direction. Thanks.

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#541791 - 05/02/06 07:25 PM Re: Benificiary to insurance check is in prison
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
The power of attorney is the most acceptable option. It could be fairly broad, or it could be limited to negotiating the check in question and opening (and managing) the account. That would put the account in the name of the sibling that is currently a guest of the taxpayers.
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#541792 - 05/02/06 08:01 PM Re: Benificiary to insurance check is in prison
DinkD Offline
100 Club
DinkD
Joined: May 2001
Posts: 117
Georgia
Thanks for your help.I was not sure if a power of attorney would be sufficient but it did seem like the logical way to go.

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