LOS ANGELES PROBATE
A conservator is only allowed to purchase life insurance with the conservatorship assets, with a prior court order.
A California conservator needs a court order to purchase life insurance on the life of the conservatee, with the assets of the conservatorship estate. Because the purchase of such a life insurance is with the conservatee's assets, the conservator has to show that the purchase would be a) desired by the conservatee; and b) would be reasonable, in light of the costs to the conservatee. For example, if a conservatee would normally be obligated to support a spouse or a minor child, the court may consider that as a legitimate reason for the conservator to apply to the court for such a purchase.
The designation of a beneficiary of a life insurance in conservatorships requires a Substituted Judgment Petition made to the court.
For more information on life insurance purchases in conservatorship cases, contact, Mina Sirkin, specialist conservatorship attorney in Los Angeles County. 818.340.4479, Woodland Hills, Glendale, & Los Angeles Conservatorship.
21550 Oxnard St 300 Woodland Hills CA 91367 US +1.8183404479 firstname.lastname@example.org
California Attorney Offices in Glendale, Pasadena, West Los Angeles, Woodland Hills, Irvine
Probate Attorney Los Angeles
Copyright © 2005-2015 Mina Sirkin. All rights reserved.
Probate Attorney Los Angeles, Probate Litigation, Trust Litigation, Conservatorship Litigation, Estate Litigation, Estate Planning Los Angeles
1+818.340.4479 SirkinLaw.com (TM)