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5 Answers

If a wife doesnt honor a dead husbands will regarding insurance policy?

Asked by: knownout 613 views Insurance , , ,

If wife is beneficiary but, will instructs her to dispurse amongs all of his children. What are the consequences?

5 Answers



  1. Chunnel on Nov 06, 2012

    Drafted properly, a Will is a written instrument disposing of a decedent’s probate assets. Probate assets include property the decedent owned in his name alone, as sole ownership, or the decedent’s share of property held as Tenants in Common.Accounts/property with beneficiary designations, like life insurance, annuities, and retirement plans (IRAs, 401ks, etc.), for example, are NOT probate assets and, accordingly, the Will is ignored.Hope my answer was clear and earns your Best Answer vote!DISCLAIMER FOR PROFESSIONALS: While the information in this response was obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. The opinion voiced in this answer is for general information only and it shall not be construed as tax, legal, or investment advice for any individual. Questioners are urged to consult with their professional advisers before making any decisions regarding their finances.Retirement Guru, CFP?, EA, CES, CFS, AAMSCertified Financial Planner? PractitionerEnrolled Agent | Admitted to Practice before the IRS

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  2. MoneyMonkey on Nov 06, 2012

    There are none, because making someone the "beneficiary" gives the person the absolute right to decide what to do with the money, and not honor the will, without any consequences.A living beneficiary of an insurance policy is never required to honor the will regarding the insurance policy.If a person wants the money disbursed amongst his children, he must name either his children or his "estate" as beneficiary. If he names his wife, then she can do as she pleases.The will only affects the life insurance policy if either (a) the estate is the beneficiary, or (b) the beneficiary is dead, convicted of murdering the deceased, or otherwise ineligible to receive the money.

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  3. Russ on Nov 06, 2012

    None. Wills CANNOT tell someone what to do with their money – they only control the money of the DECEASED. The insurance pays the beneficiary. The money belongs to the benefiicary. Just like dad can’t say in his will, "son, pay for your sister’s college anywhere she wants to go", dad cannot direct how a beneficiary spends their life insurance money. Period.And now you know – so when you set up YOUR life insurance and will, you don’t want to make the same mistake. "Do it yourself" estate planning often has unintended consequences like this – so you might want to consider hiring an estate attorney to set things up in accordance with your INTENTIONS.

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  4. Blackamp;Blue on Nov 06, 2012

    A will is related to financial situation of the estate. Unless there is no beneficiary, life insurance is not part of the estate.The beneficiary can do anything they want with the money and have no recourse.

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  5. KennethT on Nov 06, 2012

    You don’t need to tell them what you do with the money. Accept the insurance and do as you wish with it.

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