QUESTION
How does this work if something happened to him and would the will override the life insurance policy?
Asked on Sep 23rd, 2015 on Estate Planning - North Carolina
More details to this question:
My husband did not change his will and his ex-wife is on it but we have a life insurance policy with me and the kids.
1 ANSWER
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Kirk, Kirk, Howell, Cutler & Thomas, L.L.P.
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The language of the Will does not control the disbursement of the life insurance proceeds under your fact scenario. The beneficiary designation on the life insurance policy controls who receives the life insurance proceeds. In other words, under your fact scenario, the beneficiary designation on the life insurance trumps the language of the Will.
Answered on Sep 28th, 2015 at 10:47 AM