Beneficiary Last Name is wrong on the Life Insurance Policy

[craftygirl75]

What is the name of your state (only U.S. law)? Virginia

We have a situation where my uncle worked for the City of Norfolk and took out a life insurance policy which continued to be paid through his retirement. At the time he was engaged to his girlfriend and listed her on the policy as such with his last name. He was never able to get that changed and they never married. Her last name is actually Faulk but on the forms he has her as Fisher and a check has been issued to her with the last name Fisher. If she cannot verify who she is and is unable to cash the check, will the insurance proceeds go back to the executor of his estate?

 

[OHRoadwarrior]

The beneficiary will need to file with the court for legal recognition of the error, if the insurance company refuses to fix the error. Otherwise, the money should default to the state as unclaimed until the named Miss Fisher claims it.

 

[craftygirl75]

The beneficiary will need to file with the court for legal recognition of the error, if the insurance company refuses to fix the error. Otherwise, the money should default to the state as unclaimed until the named Miss Fisher claims it.

So in other words if his sister is the executor of his estate and miss fisher is unable to claim it, his sister still would not be able to collect the insurance proceeds even if she is listed on it as an contingent?

 

[OHRoadwarrior]

I just love new information.

Consult the insurance company regarding how they will handle it.

 

[tranquility]

Was Ms. Fisher/Faulk still engaged or uncle's girlfriend at his death?

 

[Eekamouse]

Sounds like decedent WANTED the insurance money to go to his girlfriend so why is sister trying to get her hands on it?

 

[tranquility]

Sounds like decedent WANTED the insurance money to go to his girlfriend so why is sister trying to get her hands on it?

The decedent may have wanted at one time for the money to go to the person who was going to be his wife. I don't see the claim they were still together at the time of death.

 

[cbg]

With respect, it is on the policyholder to change the beneficiary if he no longer wants the proceeds to go to the person he has named.

 

[tranquility]

With respect, it is on the policyholder to change the beneficiary if he no longer wants the proceeds to go to the person he has named.

Are you sure of that? The facts matter. One fact is the beneficiary designation. But, even wills have been changed by the court, depending on the facts. Remember the lawyer's motto, "it depends".

Here the insured assumed a marriage that did not happen. We are now in equity land. What are the equities?

 

[cbg]

In the absence of CLEAR indications that the decedent had changed his mind but was by some means prevented from changing the beneficiary yes, I am.

Where is the evidence that the decedent had changed his mind?

 

[tranquility]

The fact he used a name (and all it implies) that never happened?

Unless there is a reason why the beneficiary deserves the money outside of marriage, I think it difficult she gets it.

 

[cbg]

Then why did he not change the beneficiary? That's a very simple process.

 

[tranquility]

Um...change WHAT beneficiary? Why do you believe the named beneficiary refers to this person with a completely different name? In fact, someone who never had that name?

And, as I said, courts have changed wills where the named beneficiary's relationship with the decedent has ended. Wills are easy to change too. I could change mine faster than it would take me to find the number to call to begin the process of changing my life insurance beneficiary.

 

[ecmst12]

I've always needed the SSN for the people I listed as beneficiaries.

 

[tranquility]

I've always needed the SSN for the people I listed as beneficiaries.

Pity the check was issued to a name. She is welcome to litigate the issue and the court can find the equity in the situation.