Question
i live in tn when i was six years old my father was killed in a car accident by a drunk driver. the insurance company told her we would get more money by investing it with them and letting me draw a small amount each month instead of getting it all at once when i turned 18. when i turned 18 i began to call around to see what i could do and a state farm rep. told me that they could not legally hold my money that i would have to fight them but that it was my money. she also told me that the reason why they did not want to let it go was because i no longer drawed the interest on it they did. i have continued to contact them and they continue to tell me there is nothing i can do. i am looking for a way to fight this on my own do i have any options.
Thanks
Hallen
Answer
Who is the "her"? in "the insurance company told her" - your mother?
It would be necessary for someone to review the actual papers she may have signed and to know what any court may have ordered, etc. Also, it is unclear if the money was from a SETTLEMENT of a personal injury case against the driver OR from a life insurance policy your father had on his life.
In any event you seem to be getting a stream of income. I don't know what it is or the rate of interest you are getting or if it is an annuity or anything else about the facts.
You have found that trying it yourself gets you no where and this is not likely to change. I think you need some professional help to get more information. You may want to ask the lawyer that handled the case when your father died if the proceeds are from an settlement. If they are from a life insurance policy the state insurance department may be able to explain, but I doubt it can help.