Legal Question in Family Law in Minnesota
prenumtual vs will
I am getting remairied. I have several assets, such as farm land, etc. I do have a will indicating that my children are the beneficiaries. Also, they are benfciaries for my life insurance. Will this cover me or do I need a pre-numptual?
Asked on 4/12/09, 8:22 pm
1 Answer from Attorneys
Maury Beaulier612.240.8005
Minnesota Lawyers
Re: prenumtual vs will
Life insurance is a pay on death account where you designate a specific beneficiary. A court, in the event of a divorce can require a redesignation of life insuracnce policies nless hte issue is addressed in a prenuptial agreement.
A Will has absolutely no impact in the event of a divorce over the distribution of assets. A wqill only has an impact if you die. As a result a prenuptial agreement would be necessary.
For a consultation call 612.240.8005.
Answered on 4/12/09, 11:31 pm
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