Life insurance

[Monicaneedshelp]

What is the name of your state (only U.S. law)? NJ

My dad died recently. I am 40 years old. He lived with a woman for 15 years and never married her and they have a 13 year old child. The day before he died, she had a ceremony performed at his death bed (he was not coherent). He died without a will. The death certificate does indicate her as his wife. He has two bank accounts with a substantial amount of money in them, a personal life insurance policy that he made her and their child beneficiaries to and an annuity that he was receiving for the next three years from a settlement (monthly). I was recently contacted by his employer that I was the only beneficiary of his life insurance for his job. Does she have any legal rights to the life insurance money that my father left for me?

 

[justalayman]

No. if he left you as bene, you are the bene.

but, beyond that:

what ceremony? If you are saying a wedding ceremony, obvioulsy a license had to have been obtained previously. Was one?

If he was coherent, he could not enter into such anyway but first things first.

 

[Monicaneedshelp]

He was in hospice care. The nurse and social worker assisted her with setting it up. There is a marriage license.

 

[justalayman]

My apolgies; I intended to type "incoherent" in my previous post rather than coherent.

he did have to sign it for it to be valid. Did he?

Who officiated?



he would also have to be mentally capable of entering in to such a contract.

If you are considering contesting the validity of the marriage, I would suggest this had best be a sizable estate you are dealing with. Contesting this will not be inexpensive as it will take medical experts to testify as to your fathers physical condition and mental condition.

as to the insurance he left this woman and/or her child; that is untouchable by you, just as the policy he did not alter the bene coming to you. Life insurance bene's pass outside of probate of an estate.

were the bank accounts jointly held or were the POD or TOD accounts? If so, you would not be able to touch these accounts regardless of his marital status as well. All accounts as such pass directly to the joint owner or the named beneficiary.

The annuity would most likely have a bene named as well. Did it?

All of the items, so far, could have been transferred without a will or probate proceedings. So. is there anything else involved that would require probate to deal with?

 

[Dandy Don]

Check at the county courthouse probate court to see if anyone has filed to open up probate for his estate. If no one has done so, then you need to consult with a probate attorney to find out if it would be to your advantage to get probate opened up so you or your attorney can be executor of this estate IF there are any assets left to be probated. That would give the executor authority to see exactly how the bank accounts are titled--if they don't have her name on them as joint account co-owner, then they go into the estate. Did he own his home or have any other assets--stocks, bonds, etc.?

The life insurance you have been named beneficiary of is yours--she can do nothing to get that.

Also contact the company your father worked for to see if he had a pension--you need to ask how the pension will be distributed. Also need to contact the annuity company to see who is named beneficiary on that.

DANDY DON IN OKLAHOMA ([email protected])

 

[justalayman]

Dandy Don;2092582]if they don't have her name on them as joint account co-owner, then they go into the estate.

Not neccessarily true dandy. If the accounts had a POD or TOD designation with a beneficiary, they would not be a joint accoutn with a co-owner yet they would also not be part of the estate either. They would go to the named beneficiary like in a trust account (hint hint)