Legal Question in Wills and Trusts in Illinois
Will vs Insurance Policy
If I opened a life insurance policy and named person A as the beneficiary, then 10 years later wrote a will specifying that the policy should now be split between person A and person B--which request will be followed?
Asked on 6/21/04, 8:08 am
2 Answers from Attorneys
Jeffrey R. Gottlieb
Law Offices of Jeffrey R. Gottlieb, LLC
Re: Will vs Insurance Policy
The beneficiary designation with the life insurance company would take precedent. A change of beneficiary should be done directly with the life insurance carrier.
Answered on 6/21/04, 9:18 am
Thomas Moens
Moens Law Offices, Chartered
Re: Will vs Insurance Policy
Your will does not affect the beneficiaries of your insurance policy. Your will affects only the assets of your estate--the proceeds of your life insurance are not part of your estate. Any changes to your insurance beneficiaries need to be made with your insurance agent or company.
Answered on 6/21/04, 9:23 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
