Can someone other than spouse be beneficiary?

[sbever]

What is the name of your state (only U.S. law)? IN
I remarried and I don't feel my spouse will give my adult children any of my assets in the event I pass before he does. I feel this because when his first wife died of breast cancer his step children didn't receive anything from their mother's assets. He doesn't feel I should put my 401k partially in their name because he said he will need it in his retirement. Is it possible to obtain a separate insurance policy and list my sons as beneficiaries? I would like to obtain a policy without his knowledge and let my kids know about it. They are adults. Thanks in advance.

 

[LdiJ]

What is the name of your state (only U.S. law)? IN
I remarried and I don't feel my spouse will give my adult children any of my assets in the event I pass before he does. I feel this because when his first wife died of breast cancer his step children didn't receive anything from their mother's assets. He doesn't feel I should put my 401k partially in their name because he said he will need it in his retirement. Is it possible to obtain a separate insurance policy and list my sons as beneficiaries? I would like to obtain a policy without his knowledge and let my kids know about it. They are adults. Thanks in advance.

Yes, it is possible to buy a separate insurance policy and have only your children as beneficiaries. No, your husband does not have to know about the policy. However its also possible to do whatever you feel is best with your assets, as long as your husband will receive 1/2 of them.

 

[Zigner]

Why are you married to this person?

 

[justalayman]

Yes, it is possible to buy a separate insurance policy and have only your children as beneficiaries. No, your husband does not have to know about the policy. However its also possible to do whatever you feel is best with your assets, as long as your husband will receive 1/2 of them.

Husband is not entitled to 1/2 under any argument unless op wishes to leave current spouse 1/2. The elective share due a second spouse is 1/3 of the personal property and 1/4 of the real estate of the deceased spouse.


Sbever:

If you set up your assets properly you could leave your current husband as much or as little as you wish. You can name whomever you wish as a beneficiary of any account such as your 401k and other such. You can also cause real estate to be directed to anybody you choose as well. It requires some planning but it can be done.

 

[LdiJ]

Husband is not entitled to 1/2 under any argument unless op wishes to leave current spouse 1/2. The elective share due a second spouse is 1/3 of the personal property and 1/4 of the real estate of the deceased spouse.

That is assuming that there were no children born of the current marriage...if there are, its back to the 1/2. Its only 1/3 if there are children of a previous marriage and no children of the current marriage. Its 1/2 in all other circumstances.

 

[eerelations]

Given OP's first sentence, I feel we have strong reason to suspect these children are not from her current husband.

 

[justalayman]

That is assuming that there were no children born of the current marriage...if there are, its back to the 1/2. Its only 1/3 if there are children of a previous marriage and no children of the current marriage. Its 1/2 in all other circumstances.

Ok I'll accept that. It's obvious op has children from a previous relationship. Now if the op says she has children with the current spouse you win. Otherwise my statement is the rules in place.

Regardless, op can still set up her estate so there is nothing within her estate post mortem