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If the person listed beneficiary on a life insurance policy is deceased will it automatically go to the current wife?
Wiki User
∙ 15y ago
It will go to the alternate beneficiary, if one is listed if not it will be paid to the estate to be distributed in the same way as any other money in the estate.
Wiki User
∙ 15y ago
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When there is Life insurance on a spouse that has an ex-wife and minor child and spouse that dies is behind in child support can ex-wife take life insurance benefits that are the current spouses?
No, if she was the named beneficiary the benefits belongs to her, and she has no legal responsibility for the deceased's children.
If I'm the beneficiary of life insurance policies of my brother and who named me as beneficiary prior to his marriage and during his marriage do I still have legal rights to this life insurance?
You will receive the death benefit unless your brother has changed the beneficiary. Regardless of marriage, divorce, life changes, etc; unless the insured contacts their insurance company and changes their beneficiary, the money will go to the specified beneficiary; FYI- your brother would not be required to notify you as current (or ex) beneficiary if he changed the policy. Also, many life insurance policies have a primary and a successor beneficiary; the successor is the person who would receive the benefit if something were to happen to both the insured and the primary beneficiary.
Who pays the taxes on a house that is left to a beneficiary if the will is still ongoing?
It is up to the executor of the will to keep taxes, insurance etc. current.
What happens if you find additional insurance policies where beneficary listed is absolutely excluded in trust?
In order to find a trust with life insurance proceeds the trust must be named as the beneficiary of the insurance policy. Then the trust documents specify what the funds are used for that are in the trust. If there are other life insurance policies that are still active and have other individuals named as the beneficiaries then the money from those policies cannot be placed into the trust and will be paid directly to the current beneficiary listed with the insurance company. The trust will have no claim whatsoever on these policies. It could be that these policies had their beneficiary changed when the trust was set up and the trust is the current beneficiary of them as well and he just didn't put the change form in the policy. Whatever is on record with the insurance company will be the person that the benefits are paid to no matter what.
How can you determine if you are a beneficiary of a life insurance policy?
The beneficiary of a life insurance policy is designated when the policy is taken out. After that the policy owner (usually the insured but now always) can change the beneficiary by completing a change of beneficiary form. The company processes the change then sends you an amendment showing the change. Normally you put this amendment with the policy as it becomes part of the policy. If the policy owner kept their records straight then you could look at the policy and see the latest amendment to find out who the current beneficiary is. If your not sure the policy is kept up to date you can contact the company and see who the latest beneficiary is on the policy.
Can a late husband's ex wife take money from the life insurance policy he left his current wife?
Unless the ex husband changed the beneficiary to someone else, then the insurance money goes to her. It is not really an issue of relationship, but rather the person named is the one who gets it.
Does next of kin have any rights to life insurance death benefits if not listed on the policy?
This is actually not a straight answer but this is how it works. If the next of kin are not listed as the beneficiary of the policy and the current beneficiary is living; no, the beneficiary of record is entitled to payment from the insurance company. You could take the beneficiary to court to see if a judge will over turn it but it is unlikely that they will because the life insurance contract is a binding legal document. And furthermore the life insurance company is obligated to pay in monies to the beneficiary on record so by the time you take it to court that money would have already been paid out. If no beneficiary is selected, depending on the state the contract is enforced in, it money could go into probate and you would have to go through the probate process to have access to any funds. Keep in mind that probate opens the doors to creditors/debtors as well.
Can a current life partner challenge a named beneficiary on an annuity?
An individual has the right to choose the beneficiary on their annuity.
What is the definition of a permanent beneficiary?
I think that you're refering to an "irrevocable" beneficiary. This means that the beneficiary designation can only be changed if both the policy holder (owner) AND the current beneficiary sign off on it.
What happens if you KNOW but can not prove that a beneficiary was supposed to be changed Ex wife and current wife name are similar not children from first marriage?
Nothing happens. If it wasn't changed, it wasn't changed. Only the (presumably now deceased) insured can change it.
Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property?
Q. Who is responsible for homeowners insurance the beneficiary of the trust or the person with a life estate interest in the property? A. If the property is a (personal residence, family farm, rental property or even a vacation property) held in trust.Regardless of a life estate for a named beneficiary. The property tax payable would be the responsibility of the owner of the property listed on the property deed. In this case it appears that the owner of the property is the trust. Therefore the trust would be responsible for the tax. The remainderman beneficiary nor the current beneficiary enjoying a life estate in the property would owe the property tax.
In Texas does your legal spouse have to be named as your beneficiary even if you have not been together for 12 years but are not divorced?
From an Insurance agent NO, your spouse does not have to be named as your beneficiary in Texas nor any other State in the USA. You may name any beneficiary you like. A spouse, a Sibling, a Grandchild or other person you choose. It is very common for some people to have multiple policies in place with different beneficiaries named. Although Texas is a community property state, an "Insurance Policy" is NOT a piece of Property. It is also NOT taxable income and it is NOT a part of the deceased's estate unless no beneficiary was named. Community property laws do not apply, Contract Law does apply. A life insurance policy is an "Insuring Contract" between you "the Insured" and the "Insurer" to pay a specified amount upon your demise for whatever covered reasons to be paid to the beneficiary you name. Your husband whether current or past at the time of your death would have no claim unless he was named as a beneficiary on the policy.
