vkat wrote: ↑Fri Nov 24, 2023 4:14 pm Hi,
Your niece would also get social security payments I believe. Your sister should reach out to social security office and would receive payments until the daughter is 18. Typically the SS money covers daily expenses for the child. The payout for the life insurance could be set up in a custodial account named for the minor. People also set up a brokerage custodial account.
Good luck!
Yes, I believe she will be getting $300/mo until she's 18.