What to do if I am the named beneficiary on my deceased boyfriend’s life insurance policy?

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What to do if I am the named beneficiary on my deceased boyfriend’s life insurance policy?

I was contacted by someone stating he is the estate executor and power of attorney and he wants me to give the settlement to him so he can give it to my boyfriend’s child. Am I required to hand it over and, if not, can I be sued? How can I set up a trust fund for the child on my own?

Asked on May 5, 2013 under Estate Planning, Arizona

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  If there is a named beneficiary on a life insurance policy then the policy is said to pass "outside the estate," meaning that it goes directly to the person named.  You are not required to hand it over.  The designation can be challenged but the executor would have to prove some type of undue influence and a frail state of mind of your boyfriend.  Yes, you can set up a trust for the child yourself but I would seek legal help to do so.  That is very kind of you. Good luck.


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