by Diana Parra » Thu Feb 12, 2009 10:41 pm
Can a married man take out a Life Insurance Policy on himself for his girlfriend in case of a untimely death. Would his wife have Legal right to make claim on it?
Posted: Sun Jun 28, 2009 04:40 pm Post Subject:
Just throwing in my two cents....
But can't the wife sue the girlfriend afterwards,
No.
What would her "legal" cause of action be? My husband didn't love me anymore and wanted to provide for his girlfirend...NOT for what she gave him....but for what she didn't give him!
I can feel the hate mail starting already.
Seriously,... ladies... men don't have affairs because of what they get from the "other" woman......they have affairs because of what they DON'T get from the "other" woman.
she's the one that will be left with the husbands debts?
The wife isn't responsible for debt that was in the husband's name alone.
If the wife was a co-borrower then that's a different story.
...and Joe Gandolfo would say...
LINKY.
You should never hold any assets jointly with anyone, including your spouse.
You should never co-sign or guarantee any notes.
Posted: Sun Jun 28, 2009 04:44 pm Post Subject:
one more penny
Yes the wife can try to sue the girlfriend afterwards.
Not in Florida.
Florida Statute 222.13
222.13 Life insurance policies; disposition of proceeds.--
(1) Whenever any person residing in the state shall die leaving insurance on his or her life, the said insurance shall inure exclusively to the benefit of the person for whose use and benefit such insurance is designated in the policy, and the proceeds thereof shall be exempt from the claims of creditors of the insured unless the insurance policy or a valid assignment thereof provides otherwise.
Posted: Sun Jun 28, 2009 05:08 pm Post Subject:
Hello Gary,
Thank you for that clarification.
Michael
Posted: Mon Aug 31, 2015 03:58 am Post Subject: life insurance policy
you said community property states the spouses consent is required. is Arizona one of the states.
Posted: Thu Sep 10, 2015 03:34 am Post Subject:
Yes, Arizona is a community property state. When a life insurance policy is paid for with community assets, generally the spouses each have a one-half interest in the death benefit and may not encumber that to another person without the consent of the other spouse.
Posted: Thu Apr 28, 2016 11:34 am Post Subject: dJIqMkwxgYoxVYwgfD
Jack LaLanne walked the walk when it came to being fit and staying healthy. He began each day, into his 90s, with two hours of workouts: weight lifting followed by a swim against an artificial current or in place, tied to a belt. Never smoke or drank coffe and lived the choiprractic lifestyle. What an inspiration he was to us all
Posted: Tue Jan 08, 2019 12:54 am Post Subject: Life insurance for the girlfriend
Hello. Martha here, independent agency owner, and agent. I know the OP is a little dated, but this is still a question that gets asked a lot, and I can confirm that the replies here are pretty on point. The policy owner can designate any beneficiary they want to, and the beneficiary designation will be upheld.
The community property should not apply here, since the beneficiary of the policy is being paid the proceeds, and the life insurance contract was not written with a joint or contingent owner.
Posted: Thu May 30, 2019 07:21 am Post Subject:
Posted: Sat Jun 01, 2019 05:51 am Post Subject:
Posted: Sun Sep 15, 2019 03:22 pm Post Subject:
Add your comment