still legally married ... receiving monies

[sherry]

I have not been with my spouse for over 5 years, we have one child together. We do have a separation agreement that is way outdated. One of my parents recently passed and there is some insurance monies my remaining parent wants to give to me. What are the risks with this for me to receive money.

 

[FL_Needs_To_Change]

I do not think that there are any risks for you to worry about.
I am thinking you're a little worried that your ex would be able to make a claim to it, but that is not the case since you have been apart for 5 years.
Even after one full year there is no need for consent to grant a legal divorce.

 

[looking_for_help]

Actually to be on a safe side you should file for a divorce, because if it's a significant amount of money and your ex finds out s/he can clam s/he is entitled to half if they want to be a pain. So you will probably loose a significant amount of money on lawyers and courts in order to keep the money which in it's self is not the smartest idea. Since it has been significantly longer then a year it shouldn't be a problem, it' better to cover your ass then to later regret it.

 

[Suchislife]

He or she would not have been a direct beneficiary unless he or she were named in the will regardless of the status of the marriage.
The law allows you to keep some property that you have at the end of your marriage for yourself. This property is called excluded property. It includes:

• gifts you received during your marriage from someone other than your spouse;
• property that you inherited during your marriage;
• money that you received from an insurance company because someone died; and
• money that you got or that you have a right to get as a result of a personal injury, like a car accident.