by sweetceya1965 » Sun Oct 17, 2010 02:39 am
My questions are if you had a young man that knew he was dying but did not take the time to change his beneficaries on his insurance policy but tells his family to give everything to his live in fiancee on his dying bed should that be honored?
The policy's was put in place 10yrs before the death of the person when he first statred his job and he spent the last 4 yrs of his life with his live-in fiancee. There was more than one policy in place, one for his sister's two kids because he did not want his single sister to be stuck taking care of her kids alone, she was married for a few years when he died and she had other kids. The other was for his mother but there had been a rift in their relationship for over four or five years. He was helping his fiancee raise her young son since birth and they were living in a house that he had just bought for her eight months before his death. He died and she was left with nothing. Should they have honored his last request or because of the contract legally they did not have to give her anything?
The policy's was put in place 10yrs before the death of the person when he first statred his job and he spent the last 4 yrs of his life with his live-in fiancee. There was more than one policy in place, one for his sister's two kids because he did not want his single sister to be stuck taking care of her kids alone, she was married for a few years when he died and she had other kids. The other was for his mother but there had been a rift in their relationship for over four or five years. He was helping his fiancee raise her young son since birth and they were living in a house that he had just bought for her eight months before his death. He died and she was left with nothing. Should they have honored his last request or because of the contract legally they did not have to give her anything?
Posted: Mon Oct 18, 2010 08:22 am Post Subject:
Well this is an unfortunate situation but law knows only written legal contracts and not the verbal ones, so i do not think legally it is binding on any body to give any thing to his live in fiance.
Posted: Mon Oct 18, 2010 09:22 am Post Subject:
because of the contract legally they did not have to give her anything
Exactly.
If the beneficiary(ies) voluntarily choose to part with some or all of their proceeds, fine. If not, well, it's their money and they may do with it as they please.
Posted: Fri Oct 22, 2010 11:45 pm Post Subject:
If the beneficiary(ies) voluntarily choose to part with some or all of their proceeds, fine.
Can the primary beneficiary request a part of the proceeds to be sent to another person? How does he go about it?
Add your comment