by RonV » Tue May 08, 2012 03:15 pm
My father passed last year. I have three brothers and all of us were named as beneficiaries. Mother passed years ago. MetLife sent me a form to fill out as well as the other brothers. Now one of my brothers who is the executor is disputing the policy payout and trying to get it paid to himself alone. The rest of us can't afford an attorney. To date he has managed to get all but himself out of the will and apparently "forgot" about this policy. What are his chances of success? The policy was created over 30 years ago in California and my father passed in Mass.
Posted: Tue May 08, 2012 04:33 pm Post Subject:
He won't be able to do anything to affect the payout of the life insurance proceeds. Whomever is named as a beneficiary will receive their share of the proceeds as designated by the policy documents.
It is EXTREMELY uncommon that beneficiary designations can be overturned. The only time I've ever seen it occur is when "duress" was shown when filling out the beneficiary forms.
Tell your brother to stick it.
InsTeacher 8)
Posted: Wed May 09, 2012 07:57 pm Post Subject:
To date he has managed to get all but himself out of the will
While this has nothing to do with the life insurance, as InsTeacher discussed above, if there has been wrongdoing as far as the will is concerned, you cannot afford not to obtain some legal assistance -- especially if there was property or other valuable substance in your father's estate.
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