<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Young Widower:
My wife died with no will 2 years ago. We were married only a short time. (3 yrs.) My wife didn't think to change the life insurance policies or bank IRA's to me as beneficiary. My mother in law has allready broken many promises to me. She walked off with the insurance money and now there is a IRA in the bank with her named as beneificiary. As her spouce, I was intitle to all other retirement funds but i can not get a clear answer as to weather this ine is solely mine ir not. My lawyer. seems to be giving me an unclear picture as to what my rights are in this case. HELP! <HR></BLOCKQUOTE>
My response:
The insurance company and the Bank have no choice but to turn over all monies to the named beneficiary. If you make a claim on the monies still undivided, but are in the name of your mother-in-law as beneficiary, then the Bank, or other institution, will "interplead" all such monies into a locked fund with the court, and let the parties (you and whomever was named as beneficiary) battle it out in court. Only when the issues have been fully decided, will the court then order that the funds be released to the prevailing party or parties.
IAAL
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