Beneficiary
I've been after DH for a while to check his beneficiary for his life insurance through work.
Last week he finally checked because I wanted to know so I could take out more on him depending how much he was leaving Puke.
Well, to my surprise he had Puke as the sole beneficiary. My worst fear was reality. He did change it but I was really hurt and mad that he was so careless. Keep in mind we have been married for over 5 years. Had anything happened to him I would have been royally screwed.
This lead to the discussion of he needs to go to a lawyer and draw up a will so I won't have worry about his ex or Puke causing me a fight.
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Comments
Nothing but when you exclude
Nothing but when you exclude your wife you just leave her debts. She inherits all the debts any medical bills and funeral costs. Spouses should have plans on how each of them will cope with reduced income and expenses when one spouse dies. Of course kids need supporting too but not to the exclusion of a spouse.
He never intended to open
He never intended to open another policy for me. Had I not insist he tell how it was set up, I would have not been provided for.
It was up to me to make sure I was provided for. He doesn't have to worry because I made sure he would be ok if something should happen to me.
He can provide for her all he wants but he needs to make sure I'm taken care since I'll be responsible for all debt.
"She wasn't being excluded,
"She wasn't being excluded, he probably just never opened a new policy for her."
Depending on how much the original policy is for and how much he makes, he may not be able to get another policy.
I used to work in the industry and people have been denied policies because they are deemed to be over insured.
One case was a divorced man who wanted a new policy for his second wife and new son. He had to change the beneficiaries on the two policies he already had.
Yeah this is the only life
Yeah this is the only life insurance he has.
My husband is like this too.
My husband is like this too. He thinks that he is not going to die soon so there is no reason to sort it out or spend money on a lawyer.
Exactly.
Exactly.
I looked at SO's and 5 years
I looked at SO's and 5 years after divorce BM was sole beneficiary..... I almost had a heart attack, SO simply forgot about it, I made him change it to Aergia....... I want nothing from him.
I was more scared if I demanded my name he would want his name on mine and I had Deigma on as sole beneficiary, my cover is way bigger then SO's
So I guess it's up to every person how they want to do it, we had huge fights about the fact that my will stipulates all my stuff will go to Deigma, not SO and not Aergia... SO was very upset and said this means Aergia will get nothing one day (SO has nothing but debt) I smiled and said BM can provide for her, .. Deigma does not have a father to leave him something behind. We have a clause as well, the shared property will go to the longest living person and upon that death it will be sold and the money distributed between the 2 children as per ratio of parent contributions, I refused the 50/50 split .. cause currently it's 70/30 in my favor...
I told DH that none of my
I told DH that none of my stuff unless I specified is to be given to anyone. I know Puke would want to come in and pick out what she wants.
That's my biggest fear with
That's my biggest fear with the skids. I already told DH- HELL NO! If that happens I will come back and haunt him and it won't be pretty.
That's why you need a will
That's why you need a will Hon with a executor....
no one can take anything unless you stipulated it as such.... I have my Dad as mine, and I will worry about it again the day he's not around anymore, ..... then I will change it to my lawyer... but always a 3rd party...
I'm having a will drawn up
I'm having a will drawn up too.
Isn't she a minor? It's not
Isn't she a minor? It's not wise to have a minor as the beneficiary, that can cause problems. Good thing he changed it.
I've got DH as sole on
I've got DH as sole on several investments and primary (with my sister then niece) as secondary on my large life insurance policy.
Once I get some things in order here, and after the holidays, we are going to make sure we each have a will drawn up. My current will is as a single person (I cut my ex out ASAP once I was divorced).
Would like to do it sooner and may if we have the time to sit down and do it.
DH has requested the change
DH has requested the change so many times from BM to me. His insurance company finally got it right after 6 times. He would check periodically and it would say BM. He would even receive a confirmation that he changed it! Glad nothing happened to him.