Who paid for the funeral? If she did, maybe give her the money to cover the funeral expenses out of the insurance money. That would be all that I would give her.
I'm positive she didn't pay. She probably doesn't have 2 nickels to rub together. I'm guessing one of his siblings paid. My aunt had to pay for my grandmas funeral in December.
When my husband died the funeral home didn't make me pay a penny until the life insurance was paid out. I don't think I was getting any kind of special treatment because prior to that I'd never had any kind of relationship with the funeral home/director. Maybe your father's funeral home is doing the same thing, but I don't think you should feel any obligation to cover the cost of the funeral, either.
I'm just going to throw out there that my life insurance policy (which is through my employer) has a written clause which states that if the holder is married and the beneficiary is someone other than their spouse, the policy must be accompanied by written approval from that spouse...even if the marriage takes place after the policy is in place.
Depending on the state and/or whether ERISA applies, the spouse has to sign off on the bene designations. But these people weren't married. And these kids are his kids, and they have an insurable interest. (Not as if he's leaving the policy to his pet hamster, kwim.)
If you scroll up, my initial point is they may have been married without OP knowing it. But I will shut up and delete the post you quote.
(more not legal advice) And if she does cobble together a constructive marriage argument and gets a court to rule she is entitled to the money, you might be liable for paying it back to her even after you received proceeds.
No.
The beneficiary designation on a life insurance policy is incontestable. Life insurance policies (and annuities) pass outside of probate, so they do not fall under the normal laws of asset disposition. The money goes to the beneficiaries. Furthermore, these beneficiaries had an "insurable interest" as his children, so there's literally NOTHING to dispute. Even if she WERE his wife, the money goes to the beneficiaries. The end.
If she harasses you, you don't need a lawyer. Just call the police.
^this. his employer shouldn't tell her who the beneficiaries are or what the amounts are. All they can say is that she isn't one of them. my husband deals with this shiz all the time for work. you'd be surprised how often people forget to remove an ex spouse as their beneficiary. there is nothing the remaining family can do about it.
Depending on the state and/or whether ERISA applies, the spouse has to sign off on the bene designations. But these people weren't married. And these kids are his kids, and they have an insurable interest. (Not as if he's leaving the policy to his pet hamster, kwim.)
But, if you scroll up, my point is they may have been married without OP knowing it. But - this is definitely not my area of law so I will shut up.
Excellent point, but even so, the kids do have a clear insurable interest. It's not beyond plausibility that he would be married and STILL want his kids to be the beneficiaries. For whatever reason.
And although it would be different if the beneficiary were an ex-wife without his dependent children (so no insurable interest), it STILL wouldn't be a slam dunk in reassigning the beneficiary. Insurance policies pay out to exes all.the.time. (Sorry new wife, you're SOL, should have checked those beneficiary designations.)
In the end, this is a contract between an insurance company and the insured - and the best evidence of the insured's wishes is the beneficiary designation that he chose during his lifetime.
This was drilled into us during CFP coursework. Beneficiary designations are really freaking important, nearly impossible to change after death, and a good financial planner will review these with clients regularly. Just my two cents
Ballsy for that woman to contact you, she must have been on some liquid courage to pick up the phone.
I'm just glad it's all in writing. My friend's lost their mom in a car accident about 5 years ago. The mother never had a will and her new husband of 6 months took everything.....the house that one of my friends was helping to make payments on, plus all of her jewelry and other possessions that had a little value suddenly disappeared. I feel terrible for them, it's hard enough to lose your mom, but to have a dirt bag husband who just recently popped into the picture taking things was really upsetting.