Contested Life Policy

[Graysonguy]

What is the name of your state?Georgia
My mother passed away a few days ago.
She left me a policy that is paid up and I am sole beneficiary.
She had No burial insurance..I'm willing to pay my part..No PROBLEM!!
There is no Estate...She has some debt...A couple of "Store Credit Cards", a small Loan Company whiich her 1987 vehicle is collateral($4000) owed to them..My brother wants to pay this off, him keep the car, but split this four ways...
Can my brother and 2 sisters contest this??
My father has alzheimer's...
He's going to live with a relative, whom is going to be receiving his SS..I'm Ok with this..
The home will be sold.. Home in my Dad's name only..My brother has Power of Attorney over my father's business..
He's requesting me to turn over Policy from my Mom...When my father passes, if any extra funds are to be used for my father, they will be deducted from the sale of the home....At that point, ALL funds will be split..

 

[BelizeBreeze]

Tell your family to 'get bent'. Insurance policy payout does not pass through probate. The rest of it has nothing to do with law. If your brother (the P.O.A.) wants to take the home and sell it then distribute the proceeds he just may get a visit from the Elder abuse people....big, nasty and very unforgiving.

Advise your brother to put any leftover monies into trust for your father with distribution after his death.

 

[Graysonguy]

Trust

My brother says the monies will go into a Trust...No monies will be divided until after his death...My brother, nor ANY of us would do anything to take away from my father's well being.

 

[ALawyer]

This is really not a legal matter, but one of family harmony long term.

If you are the beneficiary, the money would be yours. But unless what you intend to do is seen as "fair" by (most of) your siblings -- and sharing the money is not automatically "fair" just as not sharing is not automatically unfair -- you'll have generated family animosity that will last for the rest of your life and perhpas the lives of your kids.

If this policy was to make up for what others received during their life, or your mother trusted you to make the payment of her final expenses, and you'll do so, that's one thing.

But otherwise, I'd seriously consider if the gain is worth the cost. And I'd speak to a family counselor, clergy or friends rather than a lawyer.

 

[BelizeBreeze]

But otherwise, I'd seriously consider if the gain is worth the cost. And I'd speak to a family counselor, clergy or friends rather than a lawyer.

Be careful...that comment might get you in trouble at the next mixer