Life Insurance and Wills

[Quick]

What is the name of your state? What is the name of your state? Texas
I have never posted to a forum...hope I am doing ok. I have never lost anyone in my life that was dear to me(except a few dogs). My husband recently lost his Mom...it was a lingering illness, she knew she was going...she had all her affairs in order.
She had a will and lots of life insurance and she gave her property and houses to whom she wanted to have them before she passed, I assume to avoid taxes and probate.
I don't know how to explain this but her life insurance was made out to the other son as benificiary...he also is the executor, and according to a lawyer we talked to even if her will says he has to split the money 8 ways, he does not have to because it was him the benificary and not the estate.. Everyone take this in to consideration about life insurance. Greed can overwelm alot of people. My dear husbands brother even. All I can say is be very cautious about life insurance and if you want it split up stipulate it in your policy, the will won't do it! For some reason greed incompusses all mortals, even the ones you trust to do your wishes.
Sorry no question, I have been reading alot on the subject. I just wanted to warn people about greed, wills, and executors. BE CAREFUL so those you want to have things get it!! Peace Quick

 

[I AM ALWAYS LIABLE]

My response:

I don't quite understand why you believe your husband's brother is "greedy"?

If their mother wanted more than one beneficiary of the insurance policy, she could have nominated multiple beneficiaries. But, she didn't. It has nothing to do with "fairness" either - - as you will read . . .

The brother was under no legal, moral or ethical obligation to "share" any of that money because as soon as his mother passed, that insurance money was as good as in his pocket - - it was his, all his, at the moment of her death. And, that money had nothing whatsoever to do with the mother's Estate. By law, that money never even "reached" her Estate. The attorney was absolutely correct. The brother owed nothing to anyone else.

It's the same thing as if you asked the brother to open his wallet and start passing out the money he has in his wallet. So, do you think he's "greedy" because of the "source" of that money? The source has nothing to do with it.

So, why is the brother "greedy"?

IAAL

 

[Quick]

Greedy is as greedy does. At least the way I was raised. She left the money to him with the stipulation that it was all to be split 8 ways. She trusted him to do her wishes, but he isn't doing them...money talks LOL. I say he is legally correct but morally, he is wrong. So wanted everyone if there is anyone here to be aware that greed will play in it all. Sincerely Quick