Contesting life insurance beneficiary: Can it be done?

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PostPosted: Thu Feb 21, 2013 1:43 pm   Post subject: bene of brothers Life ins. policy  

My brother suddenly passed away,he has grown children, divorced and remarried for 8 yrs. worked for the gov for 35 yrs. Left his wife his pension, 401 K and real estate. He had a life Ins. plicy that he took out many yrs ago after his divorced. He named me his sister as primary bene, his mother as contingent and has a Supp. on it for each of his childresn. I did not know of this until after the funeral and his wife called the Ins co and found out I was the Bene. She said that he changed the bene. I work for Ins company so i know the rules. Anyway she wants me to turn over the policy to her. I called the Ins. company and received his policy. Being familiar with policies, I now know what he was trying to tell me. I know he could of changed his bene at any time and has had 8 yrs to do that. I am very close to my brother and his children. Anyway guess the question is ,can she contest this and what are her chances, Believe me i just want to do the right thing.


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PostPosted: Fri Feb 22, 2013 4:20 am   Post subject:   

Quote:
the question is ,can she contest this and what are her chances
As the National Lawyer's Anthem goes: [This is] the land of the 40% fee and the home of the bereaved.



She can contest all she wants, but it won't change the law. A person is free to name anyone or anything as his beneficiary, and unless it's her, she has no claim. She can certainly work hard to make your life miserable, to intimidate you into giving her some of the money.



Just remember these words the next time she calls:



GO BUTT A STUMP!


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PostPosted: Thu Mar 07, 2013 5:34 am   Post subject:   

Divorced father has two kids. Buys insurance policy in early 80s and names his sister as beneficiary. Continues to keep life insurance in force until his death. Father marries in mid 90s. Father dies recently. Sister takes life insurance money and gives it to 2 (now adult) kids. Wife sues the sister/aunt and 2 kids for life insurance money. Good chances? bad chances?


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anonymous3232
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PostPosted: Thu Mar 07, 2013 5:55 am   Post subject:   

If John names his sister, Jane, the beneficiary of his life insurance in 1985 and John gets married to Joan in 1995, but never changes the beneficiary of his life insurance, when John dies in 2013, Jane is still the beneficiary of John's life insurance. Joan has no claim to any of the life insurance proceeds.



Jane can do whatever she wants with the money. However, giving more than $14,000 in gifts to any one person creates a gift tax liability for Jane (in 2013, the maximum tax-free gift in 2012 was $13,0000). She may use a portion of her $5,000,000 combined gift/estate tax exemption to avoid having to pay tax on the gifts in 2013.



Unfortunately for Jane, Joan lives in America, the land of the tort lawyer and the home of the nuisance suit. Joan can sue anyone she wants for anything she thinks is hers. Joan will probably find an attorney who will not tell her that she has no case, and will file a civil suit on her behalf.



Now Jane has to spend her own money to defend her right to receive and do as she pleases with John's death benefit. Ideally, Jane will hire an experienced attorney, James, who will move for summary judgment at the first hearing and demand reimbursement for all legal fees to defend against a frivolous civil suit, which the court should award to James. Nothing in this for Jane.



Hope this helps to clear your confusion.



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PostPosted: Thu Mar 07, 2013 6:10 am   Post subject:   

This does help! I appreciate you making sense of my nonsense. I should have typed it out better than I did, but you pretty much figured it out anyway.



Good news for Jane and the 2 kids.


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PostPosted: Mon Mar 11, 2013 6:15 pm   Post subject: minor child contesting insurance  

My son recently died.....he was divorced with two children. My ex-daughter-in-law had it written in the divorce papers she was to collected all insurance benefits. The eldest child will soon be 18 and knew nothing of this arrangement and wants to know if she can stop the payout to her mother so that she can use it for her college education. Her sister will be 15 in June. The mother is planning on using the money to purchase a house instead of holding it for her daughters for their education.


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tootz
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PostPosted: Tue Mar 12, 2013 5:56 am   Post subject:   

Evidently you have not taken the time to read many of the posts that have preceded yours. The answer is, generally speaking, NO. There could be circumstances in which your state law might be different to a limited extent.



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PostPosted: Thu Apr 04, 2013 7:38 pm   Post subject: Life Insurance  

My father changed the benficiary and owner of his two life insurance policies to me and then passed away three weeks later. My brother and his wife are now contesting the change. He was deemed competant by a doctor and there was a decree by Probate stating this. Will the insurance company honor this change or will they switch it back to the original beneficiary


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PostPosted: Fri Apr 05, 2013 12:57 am   Post subject:   

Quote:
Will the insurance company honor this change or will they switch it back to the original beneficiary
If the insurance company fails to honor the change as submitted, they are exposing themselves to big time litigation. If you have something in writing that attests to your father's competence, send a copy of it with a demand letter to the insurance company's claims department.


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PostPosted: Thu May 09, 2013 2:01 pm   Post subject: insurance  

I was informed when my granddaughter died in a car accident and I had custody of her until she became 18yrs old, she had two children on child lived and I have custody now how biological parents were paid from the same insurance company,now the insurance company said they paid me by mistake a year later and now want to pay it back


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PostPosted: Fri May 10, 2013 3:22 am   Post subject:   

So what is your question?



If the insurance company had a reasonable belief that you were the proper beneficiary, they are off the hook. The rightful beneficiary would have the right to sue you for the amount of money you received, not the insurance company.



On the other hand, if the insurance company knew there was a possibility that you were not the correct beneficiary, but paid you any way, they could be responsible to pay the correct beneficiary an amount equal to the death benefit. In other words, they would have to pay twice.



In either case, the insurance company cannot collect the money back from you unless there was some sort of fraud on your part, in which case they would have to sue you in civil court, prove their case and obtain a judgment against you.



Until then, tell the insurance company to go butt a stump.



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PostPosted: Fri Jul 12, 2013 5:42 am   Post subject: lost  

ok im gonna try to explain my situation but not in a way im critsised like others...ok my dad past three months ago he told me 2 yrs ago he had cancer and he has life insurance and my mother he told when he passess and she is able to collect it 2 months after his passing)yes she is poa she is to collect the insurace pay his funeral any unpaid bills left bye him and the rest be passed and divided between me and three step siblings well she collects the insurance(in which i cant get info on the policy do to im not his benifi)and splits between the three step and nothing sent to me except the funeral bill and the last hospital bill which was suppose to be payed with life insurance before spliting well she didnt pay them now im left with 2big bills and nothing froom the iinsurancei tell them she collected it and should of payed them and gave them her name and number well they inform me i am his ligitament blood daughter next of kin and im responsible i told them stop calling me to contact my mother but they send the bills to me and say im responsible well i wouldnt mind paying it if i got my share his bills why not his money so my question is since she changed her number and i am trying to contact her...and no luck doing that how can i find out what insurance he had so i can contact them and find out the day and how much she collected so i have proof of payment to her and proof so if it ends up in court i have the info to repersent myself and have the proof she collected and she should of payed them bills...thanks for your time and hoping you understand what my concerns are


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PostPosted: Fri Jul 12, 2013 8:52 am   Post subject:   

First, let me offer condolences for the loss of your father. Then let me say that as his child, you are not responsible for your father's debts, but his estate is. On the other hand, if you are the administrator of your father's estate, then you could be held personally liable for any unpaid debts. Since you don't mention anything of the sort, then I assume you are not administering his estate. I would assume that his wife was handling his estate.

Quote:
the rest be passed and divided between me and three step siblings
Unless you and your "step siblings" were named as beneficiaries, those words of your father were of no consequence. The only person entitled to the funds from the life insurance policy is the named beneficiary. What they do with the money is their business, and no one else's. They don't have to pay anyone's bills with it. And they don't have to share one cent of it with anyone else.



As for getting any information from any insurance company . . . that's not going to happen even if you knew the insurance company and had the policy number, not unless you are the beneficiary.



So, based on what you've written and how you've written it, you need an attorney -- one who specializes in estates and probate. -- to protect you. You should not attempt to represent yourself.


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PostPosted: Sat Jul 13, 2013 12:00 pm   Post subject: 403b ira  

My dad just died and left me primary beneficiary of a small IRA. My brother is the secondary. However USAA has sent us both paperwork to fill out to get the funds. ONe agent I spoke with at USAA says I am primary only and will get all monies, and one first said no to my brother, but then sent him papers to fill out to claim money?? I thought a secondary could not be told about the primary beneficiary's monies due to privacy?


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nurselisa1124
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PostPosted: Sat Jul 13, 2013 2:30 pm   Post subject:   

I don't know that any privacy issues exist, but if you are the primary beneficiary, you have nothing to worry about.



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