bennificiary

What is the name of your state?What is the name of your state?Iowa
My stepDad passed away in June this year , and I was named sole bennificiary on his life insurance policy he had through his work, Well he had children with other women and they are steaking claim to the policy , The life insurance company has sent this to there legal department and they will decide who gets the money or give us a court date I live in Iowa and they live in New York.Do they have a chance to take the money since he is only step. ( there are three of the kids are still under the age of 18) Do they have any right to the money ?

Since you are named as the designated beneficiary, that is the strongest fact in your favor that they are going to rule for you. Whenever you find out when and where the court date is, it would be advisable for you to get your own attorney in the same city/county where the case is going to be held, just to represent your interests.

Are the other kids also step-children? No matter what their status, they are likely to lose.

DANDY DON IN OKLAHOMA ([email protected])

Read my thread in the post above this one

Read my thread in the post above this one. It should cover everything. These contracts are not easily overturned.

Unless there is a valid contract or court order giving others the right to the policy (and in some cases even then) you would be entitled to the money and win.

The insurance company, however, when faced with conflicting claims (which in theory could cause it to have to pay multiple times -- such as if it paid you and the steps sued, and won, it would also have to pay them), may choose to throw up its hands and deposit the money in court in what is known as an interpleader action. You'd need a lawyer to assert your claim and that can be relatively expensive. They may do this in hopes you'd then settle with them to save the costs of litigation.

My suggestion is that it is often far better to retain a lawyer on an hourly basis now and have the lawyer write to the insurance company and explain why the steps' claim would be bogus.

Bennificiary

My Dad did not have contact with 4 of them for 14 years out of the 6 kids and 2 of them he had just started talking to them one month before he was killed in the accident My older sister was executor of the will , and I was the bennificiary of the life insurance policy .he must have done this When they found out my mom had colon cancer in 2000 , she was in stage four witch was terminal .because the card was signed in August of 2000.

My advice stands. Sure you are probably right, but that does NOT keep them from making a claim.

Several hours of a lawyer's time now should give you peace of mind and could be used to demonstrate to them that there would be no basis for their claim and deter them from filing one with the insurance company and/or if PROPERLY communicated to the insurance company should keep the insurance company from paying the money into court. That might save you many dozens of costly hours -- or if you can't front the legal costs, the need to retain a lawyer on a contingency fee basis which may cost lots more -- later.