Legal Question in Wills and Trusts in Oklahoma
Insurance Inheritance
Can you tell me if a father is obligated to follow through with a statement that was made as to how he was going to spend the insurance settlement after the death of his wife. He made the statment that it was she wanted but now he has changed his mind and there is nothing in writing.
1 Answer from Attorneys
Re: Insurance Inheritance
Thanks for your question. Your question doesnt tell me what kind of insurance money you are asking about. If you are talking about life insurance on which he is the beneficiary, most likely he is not obligated on his verbal promise. The promise lacked consideration which in law is what makes a contract binding. If the promise caused you to change your position to your detriment then perhaps there would be consideration. If the insurance was in the nature of a personal injury settlement and you were a minor and dependent of your mother then you may have had a legal interest in the settlement. And if the insurance settlement was life insurance payable to her estate as beneficiary or did not designate a beneficiary, you might have an interest. Her Last Will or lack of a Last Will might govern the outcome in that event. You just do not provide enough historical facts to enable a more specific response.