Expensive Moneyist,
I divorced my ex-husband in 2017. It was a troublesome divorce, and later he stop paying baby assist and we have been in a protracted court docket battle, which now continues after his demise.
The 2017 divorce decree said my ex was to take care of the present life-insurance coverage we had once we have been married, which was established in 2004 till the kids graduate highschool or flip 24 years previous.
Quick ahead to October 2020 and my ex husband was recognized with terminal most cancers. He requested if he may add his girlfriend to the coverage, or add extra insurance coverage for her. I mentioned no. He then married his girlfriend; he didn’t inform the youngsters or me.
The Moneyist: When my dad and mom died, my sisters and I break up their property. I selected a portray that was appraised at $50,000. Ought to I inform them?
He went on to have his new spouse, an insurance coverage dealer, switched as proprietor of this coverage for the kids, and the life insurance coverage positioned in a belief along with her as executor of his property. My lawyer tried to reverse this, which was dominated on in court docket in my favor.
My ex’s lawyer refused to supply copies of the coverage that their lawyer sanctioned, and nonetheless has not adopted a number of judicial rulings. That is now going to the appeals court docket. My ex handed away just a few weeks in the past. My legal professionals have a handwritten beneficiary web page from his spouse.
But no coverage copy was ever produced. I can’t get the proceeds for my kids. I’ve needed to sue his spouse personally. Now she and her legal professionals are attempting to pull their toes in court docket. I do not know in regards to the life-insurance proceeds or what she has finished.
As well as, his spouse needs these two instances merged in order that she is representing the property of my ex and never held accountable personally. I’m past shocked at how this has continued. How can anybody simply select to not comply with a decide’s orders?
First Spouse
Expensive First,
If folks adopted the foundations, there can be no bounty hunters, and no jails. Because the court docket has already dominated, a divorce decree trumps a non-public contract within the eyes of the regulation. The life-insurance coverage won’t be paid out to your ex’s spouse. The court docket will deal with that.
Your ex-husband’s spouse is making life troublesome for you now, however wanting her to be any totally different to who she truly is wishing upon a star. It received’t make this unpleasantness go away any sooner, and it received’t provide the cash out of your ex-husband’s life-insurance coverage any quicker both.
Bruce Jackson from Ohio died in 2013. His divorce decree named his daughter as beneficiary of his life insurance coverage, however he uncared for to vary the identify of the beneficiary from his uncle to his daughter on the coverage, so Solar Life paid his uncle as a substitute.
A federal decide upheld the divorce decree. Solar Life appealed, however the Sixth Circuit Courtroom of Appeals in 2017 additionally sided together with his daughter. The divorce decree, which is sanctioned by the courts, trumped the life insurance coverage coverage, a non-public contract.
The Moneyist: ‘He stopped paying all the bills’: My husband moved in with his girlfriend and stole my stimulus check — twice
It was particularly messy as it seemed that no one was trying to claim something that he or she believed did not belong to them. It also took several years to work its way through the courts, so it’s not clear whether the insurer or the uncle repaid the money.
According to Fleming & Curti, a law firm in Tucson, Ariz., there are lessons to learn from the Bruce Jackson story. Among them: “Pay attention to beneficiary designations, and follow up when you have life changes … way too much of Bruce Jackson’s insurance proceeds went to lawyers. Don’t let that happen to your estate plan.”
How can your ex-husband’s wife go against the judge’s orders? Self-will, greed or the belief that she deserves it, she’s in the right, and the law will eventually prove her right or bend to her will? Who knows? Don’t buy a ticket to Second Wife Land. That trip could take a lot longer than this court case.
Save your energy for the final court ruling, and keep living your life.
You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com
Want to read more?Follow Quentin Fottrell on Twitterand browse extra of his columns right here
Hiya there, MarketWatchers. Try the Moneyist personal Fb
FB,
group the place we search for solutions to life’s thorniest cash points. Readers write in to me with all kinds of dilemmas. Submit your questions, inform me what you wish to know extra about, or weigh in on the newest Moneyist columns.