Life Insurance

[shaman234]

What is the name of your state? Florida
My ex and I divorced in 2003, in the settlement I had signed over my company paid life insurance to her as beneficiary and didn't realize it. I remarried in 2010 and set my wife up on this policy as the beneficiary. I was contacted by my ex demanding access to the company paid policy and that her name to be on it. I am retired and my company explained to me that she has no rights to access the files and that legally I can name anyone I chose as the beneficiary. Will my present wife be protected in this and is my company (Delaware based) correct that I can chose whom I wish?

 

[Bali Hai]

What is the name of your state? Florida
My ex and I divorced in 2003, in the settlement I had signed over my company paid life insurance to her as beneficiary and didn't realize it. I remarried in 2010 and set my wife up on this policy as the beneficiary. I was contacted by my ex demanding access to the company paid policy and that her name to be on it. I am retired and my company explained to me that she has no rights to access the files and that legally I can name anyone I chose as the beneficiary. Will my present wife be protected in this and is my company (Delaware based) correct that I can chose whom I wish?

Are you directed to name former wife as beneficiary in the court orders?

 

[LdiJ]

What is the name of your state? Florida
My ex and I divorced in 2003, in the settlement I had signed over my company paid life insurance to her as beneficiary and didn't realize it. I remarried in 2010 and set my wife up on this policy as the beneficiary. I was contacted by my ex demanding access to the company paid policy and that her name to be on it. I am retired and my company explained to me that she has no rights to access the files and that legally I can name anyone I chose as the beneficiary. Will my present wife be protected in this and is my company (Delaware based) correct that I can chose whom I wish?

You are comparing apples to oranges.

Normally, anyone is allowed to designate anyone they like as beneficiary to their life insurance policy...so your company is correct in that aspect. However, if you agreed to designate your ex-wife, as the beneficiary as part of the property settlement in your divorce, then you have a major problem if she is not listed as the beneficiary.

 

[shaman234]

Is there any way to change this? I started reading the 11 year old document again and I stated that if the policy was not in effect at the time of my death she had the right to place a claim against my estate. I wished I had seen this in 2003.

 

[mistoffolees]

Is there any way to change this? I started reading the 11 year old document again and I stated that if the policy was not in effect at the time of my death she had the right to place a claim against my estate. I wished I had seen this in 2003.

It's probably too late to change it.

 

[Bali Hai]

Is there any way to change this? I started reading the 11 year old document again and I stated that if the policy was not in effect at the time of my death she had the right to place a claim against my estate. I wished I had seen this in 2003.

Be sure to remember these little details in your next divorce.

 

[shaman234]

Thanks for the input