How can I get a life insurance policy to be paid out to an estate instead of an ex-wife?
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How can I get a life insurance policy to be paid out to an estate instead of an ex-wife?
I am the executor of an estate. I have recently found out that the ex-wife of the deceased person is still a beneficary on a life insurance policy.
Asked on May 10, 2013 under Insurance Law, Vermont
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You can't do this, unfortunately. A life insurance policy is a contract: the proceeds are paid as directed in the policy--that is, to the named benefiary. Had the decedent wanted, he could have changed this while alive, since a person may change his beneficiary (or cancel the policy) at will; however, since he passed away before doing this, the proceeds will be paid as the policy directs.
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