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life insurance

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rayndrop65

Guest
What is the name of your state? Ohio Five years ago my husband passed away naming his girlfriend of six months his beneficiary on his life insurance policy. At the time of his death we had 2 small children and had custody of his 2 children from a previous marriage. We were not divorced or legally seperated at the time of his death. My husbands brother was our life insurance agent and was the one who convinced my husband to change his beneficiary ironically 1 week before my husbands death. At the time of my husbands funeral my step daughter was takin aside by my brother in law and the funeral home director and told that there had been trust funds set up for all 4 children and they could have them when they were 21 . My step daughter who just turned 21 called her Uncle the insurance agent and was told that there were no trust funds that the girlfriend was supposed to set the trust funds up but instead kept the money. At the time of my husbands death I called several attorney's and was told that there was nothing i could do about the life insurance policy unless i had a child support order which i did not. So after a long time of hearing there was nothing i could do i let it go thinking that at least there was something for the children.now i have learned that there is nothing for the children and wonder how something like this can happen
 


Beth3

Senior Member
An individual can name whomever they wish as their beneficiary on their life insurance and virtually any other insurance-type product. Period.

The only statutory requirement I know of on this issue addresses empoyer-sponsored retirement savings plans (pension plans, 401K plans, etc.) and regulations require a married participant to name their spouse as beneficiary unless the spouse explicitly waives their rights in the form of a notarized document.

It is extremely unfortunate your husband made the choices he did and didn't provide for you or his children better. I'm sorry for your situation.
 

ALawyer

Senior Member
IF the girlfriend was to set up a trust, and received the proceeds in trust, it may be possible to sue her.
 

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