Can a life insurance beneficiary be disputed?

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PostPosted: Wed Nov 12, 2008 3:43 am   Post subject: Can a life insurance beneficiary be disputed?  

Hello, I'd appreciate anyone's advice on this one being in my shoes so here it goes...



My former boyfriend and 2 year olds father had split up after I found him cheating on me. He ended up getting engaged to this girl and removed the beneficiary from me to her. Understandable if we weren't together but my daughter was left out. They broke up because he started seeing another woman. After 6 weeks of seeing her he committed suicide and never took the girl before her off as beneficiary. The policy he had taken out when I got pregnant was over the 2 year clause at this point. Legally I know that the insurance companies pay to the beneficiary pretty much no matter what. My concern was this:



My ex's mother is suing this woman and said it's for my daughter but she wants to keep it out of his estate. ( that will be going to my daughter as soul aire anyway.) She said they are negotiating a payout settlement out of court and she will then open an account for my daughter when she's 18. As guardian of my daughter, what would someone do to make sure this is going for her or if she could sue, why couldn't I? I'm confused as to what someone would or could do.



Please keep in mind that my ex's mother is all about control and money going into this. She has not always been honest with me. She is also the executor of the estate which is understandable. I was sitting back but now have been told numerous things as if I'm not doing what I should or that I have rights when it comes to my daughter in this situation. If there is anything that I should know I wanted to ask you. What would you do?


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PostPosted: Wed Nov 12, 2008 9:21 am   Post subject:   

Be it your ex's mother or you fairly there isn't much that can be done in this case. The policy holder can name anyone in his/her life insurance policy and the death benefit would go to that person. The case that you have IMO is very feeble. Were you two married? Who was the original named beneficiary in the policy? Why haven't you objected when he had changed the beneficiary status?



I'm sympathetic to you but disputing the beneficiary issue isn't a cake-walk.



~jeremy

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PostPosted: Wed Nov 12, 2008 9:40 am   Post subject:   

Quote:
My ex's mother is sueing this woman and said it's for my daughter but she wants to keep it out of his estate.




The life insurance benefits don't get included in the estate if the beneficiary of the policy is other than the policy holder or his/her estate. Hence, the benefits will be out of the purview of the probate court. Moreover, the benefits will be tax exempted, i.e. no tax will be levied upon it.



Thanks,

Rupert
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PostPosted: Wed Nov 12, 2008 11:02 am   Post subject:   

If it's all for the baby, then why is she spending her money to sue this girl? I seriously doubt that she or you can get this (i've been told, it sucks but it's life)...I do however think you need to get an estate or probate atty to watch your daughters interest in all of this estate division, the atty willl know if you should file or join her suit...How big is the policy?



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PostPosted: Wed Nov 12, 2008 11:04 am   Post subject:   

spiritual.1,



I'd stay out of the legal battle for the death benefit as your former mother-in-law will lose that one along with all the money she pays in attorney fees.



However, your minor child is entitled to Social Security Survivior Benefits until age 18.



See THIS LINK.



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PostPosted: Wed Nov 12, 2008 12:50 pm   Post subject:   

Just what I was thinking as I was reading this post Gary.

Spirit, your daughter will get these benefits (been there before) and they will depend on the fathers past employment. The more he paid in and worked , the bigger monthly check. these benefits are payable up until the time your child turns 18 or 19 if still in school. Sorry to hear that your child lost his/her father. I wish you luck.

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PostPosted: Fri Nov 21, 2008 9:48 pm   Post subject:   

Thank you all for your input. I really appreciated it.



I just found out that his mother (who is the executor of the estate.) was on the policy also. She failed to mention that to me and that she will be recieving $250,000 as well as the other woman. She is suing the other woman and they are in the middle of negotiations to settle out of court. She claims that will be for my daughter. However, she is mad that I inquired with the insurance company to see if we had even still been on the policy.



I was never married to him. We were still in court for child support. He had taken his life 2 days before his deposition. He had also cashed in my daughters savings bonds from my family and friends and now, all of the cash and all of his other money that would go to my daughter is missing per his mother (executor of the estate.) He did pay her medical insurance and then that ended. Ofcoarse I got another for her but all of this isn't easy. The death benefits are the minimum because he showed no profits in his own businesses. So I haven't had support and I know how hard it is to pay for college or give her a head start in life. So what could you do? Maybe nothing and then that would be the case but if there is something I'm missing, please let me know.



She tells me the estate is probably going to go bankrupt and my daughter will get nothing. She states that is why she's fighting the other woman on her 1/2. I think that her getting $250,000 and not telling me and that my daughter will get nothing is pretty selfish. But if she lets the estate go bankrupt, are we entitled to the child support owed, savings bonds, from her or is my daughter entitled to more as the direct air?



It was crazy enough that the other woman and him had split up and he never took her off the policy. She didn't have any intrest with him. He wasn't of sound mind...especially to commit suicide. Do I have any recourse? My daughter is only 2 years old and can't fight? Either way, I really would like to know.


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PostPosted: Sat Nov 22, 2008 4:44 am   Post subject: life insurance  

WOW!! Gosh...I'm sorry you're going through all of this!! I have a Life Insurance policy, through the Military. Of course, my son is on the policy. Now.........here's a question ( for whoever can answer..) if your child is NOT on the Life Insurance, but, you can proof this IS your child (asking from reading posts above..) doesn't the child have a right to a certain amount of this money, AUTOMATICALLY? Or..does someone have to 'fight' for her/him?

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PostPosted: Sat Nov 22, 2008 5:16 am   Post subject:   

Hey, I can't wait to hear the answer. From what I gathered was that they only pay to the designated beneficiary. There may be some cases where this was granted but I'm waiting myself to hear how. What significant reasons would there have to be? anyone know?


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PostPosted: Sat Nov 22, 2008 8:54 am   Post subject:   

As far I know that child support can't be waived through bankruptcy and when the father is not alive the estate will be entitled with the responsibility to pay the CS. And this is applicable even when the parents of the child are not married.



Child support is given priority even with bankruptcy and the requirement for CS will be met before compensating the other debtors. However, I'm not an expert with the bankruptcy laws. Hence, someone wiser can help you better. If necessary you may also check with legal guidance .

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PostPosted: Sat Nov 22, 2008 11:36 am   Post subject:   

Hi, spritual, I thought this probably is what happened, I'm so sorry...



What on earth kind of policy did he have that was worth 500k? and I'm sorry but I don't think his mom has any intentions of giving any of this to your child...unless maybe when she dies...I really think you need to consult an atty on this...to look out for your daughters interest...Your daughter trumps his mother as far as the line of heirs to his estate, and who appointed her executor? Seriously honey get yourself to an atty NOW...have you filed for SS benefits for your girl? She will be entitled to them...what kind of business did he have? had he worked and paid SS before this business? Please please consult an estate atty...YESTERDAY!



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PostPosted: Sat Nov 22, 2008 1:59 pm   Post subject: insurance  

I think it's HORRIBLE that money comes FIRST...in ALOT of families, anyway. What about the child? Whether the couple was married or not?! Seems like NO ONE is looking out for the child's 'best interest'..just their own. I'm sorry you're going through all of this.

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PostPosted: Mon Nov 24, 2008 10:43 am   Post subject:   

Oh SD they say blood and money go hand in hand. I do hope the poster will find an atty and that this works out for her daughters best interest. Hopefully the father paid in to SS because that will be money she won't have to fight for.

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PostPosted: Tue Nov 25, 2008 2:43 am   Post subject: insurance  

I hate to say this ( well...not really Evil or Very Mad )...this sounds like something my ex-mother-in-law would do. I posted, in another thread, that my ex is STILL upset that he is NO LONGER on my Life Insurance (military). My ex says she doesn't "think it's fair, either." I don't get some people............................money and greed ruin SOOO many families. Where's the LOVE of the families?

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PostPosted: Tue Nov 25, 2008 3:26 am   Post subject:   

I just don't get how money can make anyone feel better. When you lose someone and then stand there and fight over the money. You didn;t have it before they died so you sure aren't missing anything finacially afterwards. My cousin is getting ready to bury his baby on Saturday, it was born too early and all I can think about is how everyone is so sad. How do people turn off that emotion and hold out there hands after someone departs I will never know.

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