by abby119 » Mon Jul 12, 2010 12:46 pm
My father passed away in June 2010. He is legally married but has not lived with his wife for more than 3 years. He changed his beneficiary in Oct. 2008 from his wife to his five kids without her knowledge. She is now threatening to sue for 50% of the the monies. Does she have any right to any of the life insurance money? This is in the state of Florida.
Posted: Mon Jul 12, 2010 10:57 pm Post Subject:
The owner of the policy is not compelled to name a spouse as beneficiary of a life insurance policy short of a court order to do so. If he voluntarily chose to change the beneficiary to his children instead of his spouse, there is nothing the spouse can do about it. If the children are minors, the insurance company cannot pay the money directly to the minors, but must either hold the money until the children become adults, or pay the money to an adult or trust as custodian for the benefit of the children as ordered by a court.
Posted: Tue Jul 13, 2010 01:28 am Post Subject:
She can threaten to sue all she wants, it isn't going to get her anywhere. The money goes to the beneficiary. If I had a dime for everytime I answered that question...oh wait!
Posted: Tue Jul 13, 2010 04:02 am Post Subject:
She can threaten to sue all she wants, it isn't going to get her anywhere. The money goes to the beneficiary. If I had a dime for everytime I answered that question...oh wait!
You'd probably have around $2.20 and be well on your way to financial freedom. Better buy some term and invest the difference. 8)
Posted: Tue Jul 13, 2010 02:49 pm Post Subject:
:D :D :D
According to the LA Times on 7-11-2010, US Treasuries are the hot place to park your money . . . in the three months ended 6-30-2010.
Posted: Tue Jul 13, 2010 05:00 pm Post Subject:
You'd probably have around $2.20 and be well on your way to financial freedom. Better buy some term and invest the difference.
I was thinking a GUL, do you know of any good ones? :lol:
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