Life Insurance Beneficiary
DH and I have been married a little over a month now. We each have life insurance policies provided for us through our employers. I have had my younger brother listed as beneficiary up until now. DH suggested I change it to him now that we are married. I was just thinking this morning...if I change my policy, will he change his policy to list me as his beneficiary? Or will he keep it as SD? I'm willing to bet he keeps it as his SD. Is this fair? What is everyone's thoughts? I don't know why I have never thought to ask him that question when the subject came up in the past. I sent him an email telling him I was going to fill out the paperwork and asked him what he was going to do about his. Hmmmm I wonder.
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I'm listed as DH's and he's
I'm listed as DH's and he's listed as mine - we have 2 bios. Remember your life insurance is not part of your will or your estate so those can be different.
My DH is court ordered to
My DH is court ordered to keep his policy with SD as beneficiary, and BM multiple times per year demands proof. (DH did change it after we got married, splitting it between us, but had to change it back to SD alone).
I have a large policy through work, and DH is listed as beneficiary, and the policy DH has through his work (although not as much), I'm listed. But I also will get all his assets such as our homes and his 401k's.
When SD is emancipated, hopefully in 2 years, DH said he wants to cancel that policy, but I've convinced DH to think about keeping it, and splitting it between SD and myself as it's inexpensive.
Unless your DH is court ordered to keep an existing policy, it's only fair that he split it between you and his kid.
DH's parents are redoing their wills to now include our son, and since they haven't seen SD in 2 years and have no contact with her, I wonder if she's not going to get as much as DS and SIL's 2 children...hmmm.
My DH's CO requires his work
My DH's CO requires his work policy to go to SS, it then states that if he has other future minor children it will be equally divided amongst the children. So if my DH dies my daughter would get half and my SS would get half, I wouldn't get any. I am getting a larger policy through our bank though that is just for me and with the secondary as our daughter my SS won'tbe on that one. The way I look at it is if DH dies SS still has a mom with a good income and half of the work policy, my daughter and I need money because I don't work so it would have to support us until I could get back out into the work place.
Don't change it...even if he
Don't change it...even if he changes his to your name, if you die you don't want that money going to his kid...so give him some if you'd like or do a trust or something where the money can only be used for X or for your brother or someone else to manage...no way I would leave it to my DHs kid.