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 I received money as a bebeficary of a friends accident insurance after his death can anyone question it? |
Additional Details
I was designated beneficiary but I'm not family can his family is there any chance they could get it changed in court?... |
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kpc | My brother is primary beneficiary and Iam secondary can I challange the money allocation? |
My father recently passed away and my brother was listed as primary and myself as secondary. He has chosen to keep the entire amount and not split it between the three siblings. Can I challange this or canhedo what he wants? I live in Colorado. |
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james m
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If you are a contingent beneficiary, you would only receive the proceeds if the primary beneficiary is deceased.
If all siblings are listed in the primary beneficiary designation space, then all siblings would have to share equally.
Another way to have all proceeds of a life policy be shared by all the siblings, is to name the beneficiary "Per Stirpes". This takes in account all the insureds children, present and future.
Wave states that it is according to the deceased's will. But a beneficiary designation on a life policy bypasses the will and probate. The only time it would distributed according to a will would be if there were no living beneficiaries, or the deceased's estate was named as the beneficiary.
This is the reason for naming beneficiaries on life insuance policies, so the proceeds would not have to be probated. Otherwise, why name a beneficiary if the courts could override the deceased's wishes? |
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americanfreeman
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as primary, he gets 100% of the money
being a secondary would only mean something if he was dead.
You have no standing and cannot challenge.
It is his money and that is how your dad wanted it. |
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Just say no!
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Wow that's messed up BUT from my knowledge the insurance money is totally seperate from the estate. Unless he listed all of the children as primary equally 33.33 per person I agree you don't have a leg to stand on. That's what I did for my kids--I listed them BOTH and each gets 50% |
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src50
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Primary and secondary on what? A life insurance policy? No, you have no grounds to "challenge" it. The insurance benefit is paid to the primary beneficiary. |
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Christie
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REGARDLESS of what your father's will states (he may not even have a will), the money allocation is determined by the way your father set up the beneficiaries. Becuase you are the secondary beneficiary, you are not entitled to the money unless your brother was not alive at the time of your father's death.
Your father could have allocated the money to BOTH of you - for example, with a percentage going to EACH child. But instead, he apparently trusted your brother to do the right thing and divide the money among all the children. It's unforunate that he's choosing not to do that, but I do not believe you have any legal recourse at all.
My advice, though, would be to contact an attorney. A simple phone call should get you started. An attorney can tell you over the phone if you have a case. And if you do, he can assist you in claiming your share of the money.
I believe you'll find, though, that your brother is within his rights to do exactly what he's doing, even though it's terribly selfish and unfair. |
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mbrcatz
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There is no such thing as secondary. It's called contingency, and that means you can only collect if the primary is dead.
Nope, you can't challenge. The beneficiary gets the money, and can do whatever the heck they want with it. It's their's.
You can't leave someone money, AND tell them what to do with it. It doesn't work that way. The "what to do with it" isn't binding.
** A will cannot and does not direct how someone else (like the policy beneficiary) has to spend their money. It can ONLY direct the assets of the estate.** |
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Joshi A
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Whether he is primary or secondary is irrelevant since your father has not mentioned it specifically.
You have the right to approach a civil court to get your share.
good luck. |
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wave
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Your brother MUST do what the will states. If monies are to be divided between the three of you it must be done. Get a lawyer..
Also as a secondary, is it stipulated that the primary and secondary must agree or are you the secondary only in the event something happens to the primary. Get a lawyer anyways. |
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servinis
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My wife's father passed away and left 871/2% of the estate to her
brother and 121/55 to my wife. He was appointee trustee and
executor. The estate consists of the family home only. Can my wife
challenge the will for more equity between the children. |
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zarbo17
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A good friend died recently.. One of her insurance policies leaves her 3 boys and her x husband of many years as beneficiaries. In order to have him sign off legally, wehat should we have him sign? A simple notarized letter stating that he wants nothing and asks to have it split for the three boys?? help.. |
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