Life insurance benificary

[sadincalif]

What is the name of your state? Calif. My father passed away and in 2001 he put his "black widow girlfriend" on his life insurance policy to cover a loan she loaned him and when it was paid off he was to change it back to his children.. So when it was paid off he ultimatly was in the hospital with a stroke at that time she changed the policy to her address so the children would not find out about the policy.. My question is now the our father has passed away and the policy still reads her name can we contest it as his children? We paid for his funeral and every bill out of are own pockets.. this woman has stolen every penny of his before he died/What is the name of your state?What is the name of your state?

 

[BelizeBreeze]

What is the name of your state? Calif. My father passed away and in 2001 he put his "black widow girlfriend" on his life insurance policy to cover a loan she loaned him and when it was paid off he was to change it back to his children.. So when it was paid off he ultimatly was in the hospital with a stroke at that time she changed the policy to her address so the children would not find out about the policy.. My question is now the our father has passed away and the policy still reads her name can we contest it as his children? We paid for his funeral and every bill out of are own pockets.. this woman has stolen every penny of his before he died/What is the name of your state?What is the name of your state?

sure you can contest it. You will lose but what the hell. It's your money.

 

[moburkes]

Even if the mail had been coming to your house, there is nothing that YOU could have done to change the beneficiary. Your father didn't have to name her as the sole beneficiary. For example, if they policy was for $10k, and he owed her $3k, he could have named her beneficiary of 30% and you all as benes of the remaining 70%, or named her as bene of $3k, and you all for 7k. Apparently, he changed his mind. Or, he simply ran out of time. That happens. We don't know when the end is coming, but if we don't prepare, there is nothing that can be done after the fact.

You couldn't have changed his policy FOR him.

 

[Betty]

Your father was the only one who could name the beneficiary & make any change re the beneficiary. Therefore; if the gf was the only named bene, the complete policy proceeds would have been payable to her. There is nothing you can contest since the pol. proceeds would have been paid to the correct (named) bene by the ins. co.
It sounds as if your father didn't have any/much assets when he passed away. If he had any assets, his estate should have went through probate & funeral expenses/bills paid from his estate.

 

[Dandy Don]

Is there anything in writing to verify that he was supposed to change the beneficiaries back after the loan was repaid?

 

[sadincalif]

life

yes we found a letter saying i have put pat as benificary to cover the loan on the note till it is paid off. Inusrance then will go to my living children when note is paid off. then he signed it.

the not was paid off then within days he had a stroke then recovered the fell off an alaska airline plane and was in rehab with broken femar then recovered and got cancer, brain at that...

 

[moburkes]

But the life insurance company is only obligated to follow the terms of the beneficiary statement that he signed. They cannot be held responsible for the mistake that he made in not filling out the beneficiary form in the correct way so that what he thought would happen, would actually happen.

 

[Dandy Don]

If there is nothing in the letter that specifically states that girlfriend has to repay the money after certain conditions have been met, then you don't have a case, although you could have a civil law attorney review the letter you have to see if you have possible grounds for a case.