by Guest » Wed Jan 11, 2012 08:24 am
My friend was the sole benificiary of a small life insurance policy. Another relative is claiming that the deceased intended to have my friend share the money with the rest of the family and is threatening to sue. My friend received the money from the insurance company month's ago. They all live in ohio. Is there a chance that this relative can successfully sue and force my friend to give up part of the money?
Posted: Wed Jan 11, 2012 04:32 pm Post Subject:
An insurance policy is a contract between the insurer and the insured wherein a sum is to be paid to an appointed beneficiary on the event of the death of the insured. Your friend is entirely entitled to the death benefit by virtue of the contract itself. As for the situation at hand, there are no grounds for your friend getting successfully sued unless the deceased’s will has something different to say.
Under state probate law, in some cases, the deceased’s spouse can lay claim on a portion of the death benefit if marital assets were used to pay for the purchase or the premium of the policy.
Posted: Thu Jan 12, 2012 03:16 am Post Subject:
The beneficiary's right to receive the proceeds may not be questioned except in the instance where the beneficiary may be criminally responsible for the death of the insured.
Once the money is in hand, anyone is free to attack it as they choose. The law will determine what the outcome will be. Generally, not even a will can overcome a life insurance beneficiary statement, or even a videotaped oral statement of the deceased insured made prior to his death -- even if by minutes.
And no claims can be made against the insurance company if. in good faith, it paid the money to the party it believed was lawfully entitled to it. That matter is well settled in case law going all the way to the Supreme Court of the United States.
Posted: Thu Apr 26, 2012 12:17 pm Post Subject:
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