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Hello,
I was hoping someone could help me with some information regarding life insurance/beneficiaries. A friend of mine has been divorced for about 4 years now. In 2007, she and her ex separated and had a separation agreement drawn up by their lawyers. The agreement was then registered with Family Court. One specific part of the agreement states that both parents must have life insurance, with each other being the beneficiary. Both lawyers insisted that they be each others beneficiary, in order to avoid either having a hard time collecting the money should either pass away. Both were required to provide proof of such policy with the listed beneficiary. They had 60 days to do so. My friend was provided with a document from the insurance company shortly afterwards.
My friends ex was remarried, in 2010. He recently passed away from brain cancer. My friend called the insurance company weeks after his passing, only to be told that after remarrying, he changed the beneficiary on the insurance policy to his new wife.
Question is, would the ex not have had to file a Motion to Change if he wanted to change anything in the separation agreement, including the beneficiary on the insurance policy ? The policy in question was required as part of their separation agreement. If the ex wanted to have something in place for his new wife, shouldn't he have had to open a new policy and not just simply change the beneficiary on the policy that is part of the separation agreement ?
Thanks, Jim
I was hoping someone could help me with some information regarding life insurance/beneficiaries. A friend of mine has been divorced for about 4 years now. In 2007, she and her ex separated and had a separation agreement drawn up by their lawyers. The agreement was then registered with Family Court. One specific part of the agreement states that both parents must have life insurance, with each other being the beneficiary. Both lawyers insisted that they be each others beneficiary, in order to avoid either having a hard time collecting the money should either pass away. Both were required to provide proof of such policy with the listed beneficiary. They had 60 days to do so. My friend was provided with a document from the insurance company shortly afterwards.
My friends ex was remarried, in 2010. He recently passed away from brain cancer. My friend called the insurance company weeks after his passing, only to be told that after remarrying, he changed the beneficiary on the insurance policy to his new wife.
Question is, would the ex not have had to file a Motion to Change if he wanted to change anything in the separation agreement, including the beneficiary on the insurance policy ? The policy in question was required as part of their separation agreement. If the ex wanted to have something in place for his new wife, shouldn't he have had to open a new policy and not just simply change the beneficiary on the policy that is part of the separation agreement ?
Thanks, Jim
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