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Old 01-05-2008, 09:37 AM
Ronin * Ronin * is offline
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Default Life Insurance Policy beneficiary vs Will benefeciary?

If the irrevocable beneficiary on my life policy is my son from my first marriage, and the beneficiary on my Will is my 2nd wife. Will there be a conflict? Or Life insurance and Will got nothing to do with each other?
Please someone explain.


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Old 01-05-2008, 09:37 AM
pyoungs24 pyoungs24 is offline
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The beneficiary designation on your life insurance trumps your Will. This could cause conflict during the probate process if your 2nd wife decides to contest it. I would recommend reviewing all the beneficiary designations on all your assets, including accounts through your employer, to ensure they are up to date.

Good luck!
http://www.ramblingsfinancial.blogspot.com/
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Old 01-05-2008, 09:37 AM
Hayley Hayley is offline
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they are 2 seperate things.. items in your will i do not believe include your life insurance.

you need a beneficiary for sure... for life insurance bc someone has to get the $... but that can be sticky. should ber an issue, they will send you something yearly to make any changes.


Do you men she is the exectutor of the will? she must follow your instructions and see that everyhthing is taken care of.. Now if yo left her somthing in the will, thats different, just make sure you always update it and get it notarized.
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Old 01-05-2008, 09:37 AM
jawusong101 jawusong101 is offline
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Your son will receive the death benefit for the life insurance policy.
Firstly, the life insurance benefit does not go through probate, the will does not come into play unless the beneficiary was your own estate.
Secondly, your son is the irrevocable beneficiary. This cannot be changed.
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