Reach an agreement with grandma where the money stays in trust for both of you. A certain amount can be disbursed initially and yearly thereafter.
Jonathan N. Portner, Esquire, Portner & Shure, P.A. Maryland and Virginia Personal Injury Attorneys. This response is general information and not legal advice, and does not create an attorney-client relationship. This response should not be relied upon. Please note that no attorney-client relationship exists between the sender and the recipient of this message in the absence of either (1) a signed fee contract and (2) remission of an agreed-upon retainer. Absent such an agreement and retainer, I am not engaged by you as an attorney, nor is any other member of my law firm
Are the two of you represented by the same attorney? Discuss these issues with your attorney. Generally speaking it really isn't up to you how the proceeds are paid to your grandmother and unless she is declared inconpetent then it is her choice.
BENN LAW, LLC 1617 JFK BLVD, SUITE 1240 PHILADELPHIA, PA 19103 267-773-8446 ATTORNEY-CLIENT RELATIONSHIP / LEGAL ADVICE / RESULTS DISCLAIMER: The injury, auto accident, car accident, negligence, or other legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship.
I agree with my fine fellow attorney. On a side note, anytime anyone says you are getting the "policy limits" ask for the declaration page for the policy that shows it.
I am an Arizona attorney. AVVO does not pay us for our responses. Simply because I responded to your question does not mean I am your attorney. In Arizona a non-lawyer is held to the same standards as an attorney so there are dangers to representing yourself. This is for informational purposes only and should not be considered as legal advice. If you require legal assistance an in depth discussion of your case is needed as there are many other issues to consider such as defenses, statute of limitations, etc.
Speak to your attorney about working with an estate planning attorney and financial planner in your area to put together a "settlement trust." In many cases, financial products such as annuities, etc. are used to prevent dissipation of assets from such settlements, and of course there is the implemetation of death benefits, which is likely important given your grandmother's advanced age. My Maryland admitted colleagues can certainly assist.
The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client relationship.
Sign up to receive a 3-part series of useful information and advice about personal injury law.