who is the real beneficary

[da0ba]

What is the name of your state? Colorado
My father died and when it was discovered he had a insurance policy that has on it as benenificary my mom (living) her name is on it along with the word " spouse" this was taken out in 1952 and mutured in 1972 they were divorced in 1980. A beneficiary change was done in 1960 to include his wife (my mothers name) and children at that time. He was remaired in about 1982 died in Jan. 2006 his widow ( the 2nd wife) filed a clam saying she was his "spouse" The payments came out of my fathers and mothers income between 1953-1972. Listed as contengent was his dad (deceased 1975) secondary cotengent are his children (all living) Does the second wife (widow) have any claim to this? Her name is not on it as beneficiary nor does it appair any where on the policy? Nor was any thing in his will indicating this to be his wish.

 

[BelizeBreeze]

Neither receives the proceeds from the insurance.

The proceeds go to the estate of your father.

01SC136 and 01SC248 Hill v. DeWitt and Fasi v. Becker:

 

[BelizeBreeze]

by the way, did your father mention the ex wife in the will?

 

[Betty]

Yep - the proceeds of the policy become assets of your father's estate for distribution as per his will. (I'm assuming there was nothing in the divorce decree that required your father to maintain a policy on his life with ex-wife (your mom) as beneficiary.)

 

[da0ba]

re

by the way, did your father mention the ex wife in the will?

no mention of ex wife in the will. Esate was not opend as he passed owning nothing but the the policy has the names of the children and said any outher children as contigent beneficiaries as stated the policy had was paid and mutured in 1972 he had many other documents changed but not this policy he should have recived a 1099 form every year for the intrest on this policy

thanks

 

[BelizeBreeze]

no mention of ex wife in the will. Esate was not opend as he passed owning nothing but the the policy has the names of the children and said any outher children as contigent beneficiaries as stated the policy had was paid and mutured in 1972 he had many other documents changed but not this policy he should have recived a 1099 form every year for the intrest on this policy

thanks

two questions:

How long was he and the second wife married?

How much is the policy?

 

[da0ba]

two questions:

How long was he and the second wife married?

How much is the policy?

about 24 years and around 12k

 

[BelizeBreeze]

about 24 years and around 12k

then she will receive $6,000 and the rest will be split between the other heirs. HOWEVER, she is not entitled to the entire amount as it must pass through probate.

Of course, you can always offer a negotiated settlement

 

[Dandy Don]

If you don't already have an attorney regarding this matter, you need to seriously consider getting one.

What has the insurance company said about who actually will get paid? You need an attorney to get probate opened up and also to contact the insurance company NOW to inform them that the check needs to be issued to the estate so that the executor can properly divide the proceeds amongst legal heirs. If you don't put the company on notice, they may wrongly decide to go ahead and pay the widow the entire $12,000, since many times insurance companies don't take the time to find out what the law says about who is eligible as heirs and they tend to rely on their own internal company rules/regulations which may or may not actually agree with what the law actually says.

DANDY DON IN OKLAHOMA ([email protected])