Hilgarth v. Costello

OPINION OF THE COURT

Peter G. Dounias, J.

Robert Hilgarth, parent of the infant plaintiff Tara Hilgarth, petitions this court for an order permitting withdrawal of $11,236.36 currently deposited in the Dime Savings Bank of *1021New York pursuant to an infant’s compromise order dated March 18, 1982. Petitioner seeks transferal of these moneys to a tax deferred insurance annuity offered by the North Atlantic Life Insurance Company of America. It is submitted that if invested in this annuity, the moneys will earn interest at the rate of 9.5% as opposed to 6.53% it currently earns in the Dime Savings…