Legal Question in Wills and Trusts in Texas
Community property state - Texas
If someone has a life insurance policy, but not a will - can they dictate how that money should be spent by the beneficiary? Without a will, doesn't the spouse get 50% of everything (outside of the life insurance policy) and the children equally divide the rest?
1 Answer from Attorneys
Re: Community property state - Texas
If someone has a life insurance policy, then the policy transfers funds to the listed beneficiary upon death. The beneficiary may be a human being or an entity. If it has been given to a person, then there is no way to tell them what to do with it. If it is given to a trust instrument then there is control over how it's spent. As for what happens when there is no will, that's somewhat of a loaded question. Was the life insurance policy purchased before or after you married? Are the children from prior marriages? Or all from this marriage? Is there separate property?
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