Posted: Wed Oct 15, 2008 1:51 am Post subject: MY CHILDRENS FATHER HAS PASSED AWAY AND LISTED HIS GIRLFRIEN
MY CHILDRENS FATHER JUST PASSED AWAY AND HAS LISTED HIS MOTHER AND GIRLFRIEND OF 12YRS AS HIS BENEFICIARIES ON HIS LIFE INS AND 401K. NEITHER OF THESE ARE LARGE AMOUNTS OF MONEY, NOT THAT IT MATTERS BUT DO MY CHILDREN HAVE ANY RECOURSE? HE IS 49 YRS OLD AND HIS CHILDREN ARE 26 AND 24 YRS OLD
Since both the children are adults the father wasn't required to maintain the coverage on them, which may be a case if he was liable for child support. He can technically name anyone as his beneficiaries and our laws show respect to the last wish of the decedent. However, the children may still stand the chance to contest the issue in the court. I'd suggest that you seek a legal representation in this regard.
Which state are you from? In some states the spouse has to sign a waiver form in order to exclude the surviving spouse from collecting the death benefits on his/her policy. Hence, you may need to check out with the insurance laws of your state.
Actually, its very difficult after the death of the policy holder to contest the beneficiary issue, and like what Jeremy has said, the policy holder can in fact act on his own accord to name the beneficiary of the policy.
Your children need to seek legal help if they wish to contest the beneficiary issue. The insurance company, however, has no role to play in this regard, but needs to be informed before the disbursement of the benefit to the named recipients.
However, if you decides to contest the beneficiary issue, get prepared for an uphill task ahead.
The kids can contest it but I doubt it will help..he felt this was the way he wanted his money distributed...simple as that for whatever reason.. _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
I too am sorry to hear of your childrens loss. Lori is correct it is how he wanted his money distributed. I imagine his girlfriend of that many years was like a wife to him and they were sharing a household and expenses. She may need this little bit to help her get by as she deals with his death.
Where's Gary when you need him?
Lisa, I'm sorry that your kids lost their father.
I'll cut to the chase: don't retain counsel in this matter as it will be a waste of money. Dad was presumably sane and sound when made his choice and the court - any court (and I've seen a few) will uphold that choice. In the situation you described above, there is absolutely no reason to alter the old guy's beneficiary designation. The kids could be far more successful throwing a massive guilt trip at the girlfriend and hoping she cuts loose with a few bucks. _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
I too agree this would be a total wast of money. I would instead put my efforts into helping the children (and yourself) deal with this matter. I wish you the best.
