sugjackson
Junior Member
What is the name of your state (only U.S. law)? NJ
My ex-husband died and named me/his daughter under the beneficiary section in the following way: Joan Smith as trustee for Lynette Smith, born 2/22/92, ssn 999-22-2222.
When the life insurance company sent me confirmation on the death claim, they state the the beneficiary in their records reads as follows: Joan Smith, as custodian for Lynette Smith, a minor born 2/22/92, under the NJ Uniform Transfers to Minor Act.
The life insurance company is now questioning the payout of the claim and whether it will state "trustee" or "custodian". My ex-husband never set up a trust and I'm wondering if this needed to be done prior to his death.
Thank you.
My ex-husband died and named me/his daughter under the beneficiary section in the following way: Joan Smith as trustee for Lynette Smith, born 2/22/92, ssn 999-22-2222.
When the life insurance company sent me confirmation on the death claim, they state the the beneficiary in their records reads as follows: Joan Smith, as custodian for Lynette Smith, a minor born 2/22/92, under the NJ Uniform Transfers to Minor Act.
The life insurance company is now questioning the payout of the claim and whether it will state "trustee" or "custodian". My ex-husband never set up a trust and I'm wondering if this needed to be done prior to his death.
Thank you.