by Guest » Sat Feb 23, 2013 09:43 am
I'm 53 years old and have been divorced for the past 4 years. Can I not add my present girlfriend as the beneficiary to my life policy, if I have adult children from the past marriage? I got three children - two of them are of age. Will the proceeds go through probate or there'll be a dispute for the benefits?
Posted: Sat Feb 23, 2013 03:01 pm Post Subject:
You can name anyone or anything of your choosing as the beneficiary. Will the payment go through probate? NO. Will your children be likely to cause trouble? YES. Anything you can do about it? YES. Gather everyone together and tell them what you are doing and why. Don't keep this a secret until after you are dead. When it's out in the open, everyone can have their say, be mad, or whatever. It's your choice, not theirs. All of you have to live with that choice.
My question, however, is: Why do you want to leave money to a "girlfriend" instead of your own children? If you name her as beneficiary, and something happens in your relationship that would cause you to change your mind, but something prevents you from making the change, like being incapacitated or mentally unsound, she'll get the money anyway.
Look at the various threads in this forum where children, wives, ex-wives, and girlfriends are asking similar questions after a person is dead and see what turmoil it causes.
I'm not sure what your motivations are, but you can do whatever makes you happy in this moment.
Posted: Mon Feb 25, 2013 08:58 am Post Subject:
I have set up trusts for them. Besides there will be other property arrangements for them. Same goes for my ex-spouse, which has already been looked after. What I wanted to know was that will there be any legal formalities that I have to take care of? just wanted to ensure that she gets what I leave for her.
Posted: Tue Feb 26, 2013 02:12 am Post Subject:
just wanted to ensure that she gets what I leave for her.
Then name her as a beneficiary and the deed is done. What do you care how people feel about it after you're dead and buried, right? That's not their concern either.
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