Life insurance benificiary with written instructions regarding dispersal of funds

[HAC]

What is the name of your state? Texas
I have been named the benificiary to a relatives life insurance policy. This relative has given me a handwritten note that instructs me what to do with the proceeds of the policy upon his/her death. I know that I am morally obligated to fulfil these instructions, but can this handwritten note be considered legally binding as well? The policy also paid double (accidental death).

 

[Dandy Don]

Is the document dated? Notarized? Signed by witnesses?

This document may or may not be considered as a will, but it is very poor planning on the part of the relative. Because of legal technicalities, it will probably be rejected as invalid and insufficient to serve as a will.

How much is the policy worth? If the relative wants to name multiple beneficiaries, then she can give that information to the insurance company so that the insurance company can issue separate checks to each beneficiary, and you need to inform the relative of this. If she doesn't tell the insurance company how she wants it to be paid out, the check will be issued to you and you can spend it any way you wish!!

DANDY DON IN OKLAHOMA ([email protected])