Which take precedence, Will or Court Order
Discussion
Just a quick query, as i cannot find the answer on Google.
Which document would take precedence, in the event of a death.
For example, as part of an divorce from 10 years ago, a court order was in place to state that the full life insurance policy (£1M million) was to be paid to the ex wife and child, in the event of death of the policy holder. There was no Will at the time of the order being put into place.
However a Will was subsequently written within the last 2 years, which states that only 50% of that policy was to be paid to the ex wife and child, and the remaining 50% is to be split with the new partner/family of the recently deceased.
There has been no change to the actual details of the policy (as in the trustee, beneficiary). Only that there is now a Will that states that there is a 50/50 split.
Does the court order still take precedence, or the Will?
Which document would take precedence, in the event of a death.
For example, as part of an divorce from 10 years ago, a court order was in place to state that the full life insurance policy (£1M million) was to be paid to the ex wife and child, in the event of death of the policy holder. There was no Will at the time of the order being put into place.
However a Will was subsequently written within the last 2 years, which states that only 50% of that policy was to be paid to the ex wife and child, and the remaining 50% is to be split with the new partner/family of the recently deceased.
There has been no change to the actual details of the policy (as in the trustee, beneficiary). Only that there is now a Will that states that there is a 50/50 split.
Does the court order still take precedence, or the Will?
bunchofkeys said:
The trustee of the policy is the ex-wife.
No she isn't. The trustees are the folks who actually run the company with whom the deceased was insured. They will have written instructions from the deceased as to his wishes. They can deviate from those wishes where the policy holder has remarried, but the Court Order should be shown to them.The policy does not, and cannot, form part of the deceased estate, because it wasn't there in life. So the will should not play a part here, unless the estate is big enough to pay the bequest from, disregarding the policy. Not a lawyer, but that's the way it was explained to me on divorce.
I am certainly not a lawyer and have no idea of the legal side of it all but surely it would be pretty pointless getting a court order if it could be simply over-ridden by just writting a will.
I would say the court order must trump the will - but just my opinion. (Although the law can be pretty daft at times!!)
I would say the court order must trump the will - but just my opinion. (Although the law can be pretty daft at times!!)
On part of the form, it does state an additional trustee to be named, which is a requirement.
The details are of the ex-wife.
So from my understanding, they are the ones that could be 100% in befit of the policy; if it were not for the Will.
Yet, with the Will in place, they would also need to execute the wish of the deceased, in terms of splitting it 50/50.
However, the Court Order...
I'm guessing it's not that easy and will need to be addressed in Court.
The details are of the ex-wife.
So from my understanding, they are the ones that could be 100% in befit of the policy; if it were not for the Will.
Yet, with the Will in place, they would also need to execute the wish of the deceased, in terms of splitting it 50/50.
However, the Court Order...
I'm guessing it's not that easy and will need to be addressed in Court.
Surely the court order trumps the will..... other wise we can all just go around ignoring the court, and therefore the law of the land and make our own choices in the will?
My guess is that you'd need a variation on the court order and I doubt your ex will agree to loosing 1m!!
If you want to protect your new partner/familly you'd need to take out a new life insurance policy.
My guess is that you'd need a variation on the court order and I doubt your ex will agree to loosing 1m!!
If you want to protect your new partner/familly you'd need to take out a new life insurance policy.
super7 said:
Surely the court order trumps the will..... other wise we can all just go around ignoring the court, and therefore the law of the land and make our own choices in the will?
My guess is that you'd need a variation on the court order and I doubt your ex will agree to loosing 1m!!
If you want to protect your new partner/familly you'd need to take out a new life insurance policy.
Does this mean that potentially the OP is posting from beyond the grave?My guess is that you'd need a variation on the court order and I doubt your ex will agree to loosing 1m!!
If you want to protect your new partner/familly you'd need to take out a new life insurance policy.
InitialDave said:
Could you have a policy that makes the beneficiary of the insurance payout "as detailed in my will"?
I can't see why the insurers would object, it makes little odds to them who the money goes to.
I agree that the insurers couldn't give two hoots, they've covered their end with a payout. I can't see why the insurers would object, it makes little odds to them who the money goes to.
The messy bit is how it's divided.
Yes... but you have an Order from the court to give that 1m life insurance to you ex. If you try splitting it two ways, surely your ex will go back to court to enforce the Order, and my guess is that she'd win. YOU agreed that by signing the Court Order. Now your changing your mind...... don't think it'll work!
super7 said:
Yes... but you have an Order from the court to give that 1m life insurance to you ex. If you try splitting it two ways, surely your ex will go back to court to enforce the Order, and my guess is that she'd win. YOU agreed that by signing the Court Order. Now your changing your mind...... don't think it'll work!
Nothing is quoted in terms of how much should be given, just that the ex wife is the beneficiary of the policy. Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff