My childrens father passed away in the line of duty. We were never married, he did marry someone else before his death. My children currently recieve SBP annuity. My children are 8 and 9 years of age. I am their biological mother. My question is can I cash in the annuity to get us a home?
2007-07-21 22:06:42 · 8 answers · asked by just wondering 1 in Politics & Government ➔ Military
I don't think so. IF your children end up getting paid, you won't have no access to it at all, regardless your their mother. YOUR NOT ENTITLED TO THAT MONEY & HAVE NO POWER OVER IT WHAT SO EVER. The money will probably be held in a trust fund or account until they are 18 years of age. That is for their future. And for you to even think about cashing it & buying a house is UNBELIEVABLE. It's nice to dream but the money is NOT YOURS. It's wrong for you to even consider purchasing a home with that money when the money should be used for their COLLEGE EDUCATION. I know your going to say your buying a home for their sake, but really, if you think about it.....the home would be under your name. That's not fair. Well, like i said: nice to dream, but sorry....you ain't getting that money.
2007-07-21 22:34:03 · answer #1 · answered by sugarBear 6 · 3⤊ 0⤋
The best thing to do is check with the Social Secirity Administration and find-out just what benefits they are entitled.
Should be no problem, its always better to be safe than sorry!
Hope I've been of some help! Also check with "military survivors" for x-tra advice.
2007-07-21 22:21:51 · answer #2 · answered by Anonymous · 1⤊ 1⤋
First of all, i understand your question. Becuase if my husband was KIA i would buy a house. however, the difference is that the money is left to the kids, not you. Its for their future. YOu may not even be able to get involved w/ it. Depends on some laws, go see a family service lawyer. One that deals w/ military situations.
PS Doesnt your children get a monthly check from SS?
2007-07-22 05:27:02 · answer #3 · answered by Jam 2 · 1⤊ 0⤋
first n foremost I'm very sorry abt yr father.But surely yr country will do something as he was KIA.Perhaps engages a lawyer to sort things out .All the Best
2007-07-21 22:16:17 · answer #4 · answered by chasen54 5 · 0⤊ 0⤋
I should hope not!! That money is for their future's not an investment for yourself. Why can't you provide for them in the time being??
2007-07-21 22:12:35 · answer #5 · answered by Anonymous · 3⤊ 0⤋
No, you can't. There's no cash surrender value for SBP.
2007-07-22 01:38:12 · answer #6 · answered by Yak Rider 7 · 1⤊ 0⤋
NO! Next choice?
2007-07-22 03:06:59 · answer #7 · answered by Anonymous · 1⤊ 0⤋
no. the money is not yours, and the kids are too young to buy a house.
2007-07-22 09:18:08 · answer #8 · answered by Mrsjvb 7 · 1⤊ 0⤋