Life insurance VS. Will

[legalcole]

What is the name of your state? GA

If a will is in conflict with a life insurance policy (particularly stating that he wishes to make the life insurance policy null and void), which will be upheld.

Note: this would be in respose to a court order as a result of a divorce.

 

[nextwife]

The benefits paid under a life policy are seperate and apart from the assets subject to a will. The life insurance beneficary can be changed by the policy owner at their discretion (as long as it is not contradictory to a court order). I, for example, own the life insurance policies against my husband. His will has no bearing on the benefit payout to me.

If a person wants the beneficiary changed, AND they own the policy, they should simply change the beneficiary (as long as no CO prohibits this). If they do not own the policy, they can put anything they want in the will, it won't change it.

 

[Dandy Don]

What exactly does the court order say?

Has the death occurred yet?

The person whose will it is, undoubtedly is NOT aware that the will CAN NOT (and never will) override the beneficiary designation form. This is a mistake that happens frequently.

That particular language in the will is NOT VALID.

DANDY DON IN OKLAHOMA ([email protected])

 

[legalcole]

to answer your question

The death has not occurred yet. However, it states in the papers the the policy holder, has to pay is ex wife, in order to pay for his policy. He does not want is ex to reap any benefits of his death, should it occure. She is the trustee for the child, but she is very dissorganized and pays no bills ontime including her mortgage with his name still on it. In GA, we learned that the order cannot be changed, so he wanted to make it void upon his death and take out and pay for his own policy on the child and not name his ex as the trustee.