Full question:
My father and mother have been divorced 30 years, he had my mother on life insurance policy, which he told me she was not to receive anything, my father spoke with attorney before he died and had everything go to his five children evenly. The insurance company contacted my mother and told her she was the beneficary -I told my siblings the will should be what his final wishes are, now my sibings and my mother are not speaking with me, and are treating me like a black sheep. My sisters are saying her really wanted her to have that but I know it is not true,. My mother carried on an affair and has been remarried.
- Category: Wills and Estates
- Date:
- State: New York
Answer:
A life insurance policy is typically a transfer on death asset that passes outside the probate estate that is governed by the will. As a transfer on death asset, it is generally unaffected by the will or the intentions expressed in the will. Certain assets are not included as part of a person's estate and may pass outside of probate, such as trust assets and transfer on death accounts or property owned by joint tenants which passes under a right of survivorship when one tenant dies.
Often, when people divorce, they neglect to change beneficiaries on policies. Even if it was a matter of neglect to change beneficiaries on the father's part, a neglect in changing the intended beneficiary on a policy won't deny the beneficary's right to receive benefits.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
