If I am the sole beneficiary of a life insurance policy, can I decide how the proceeds are spent if other family embers disagree?

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If I am the sole beneficiary of a life insurance policy, can I decide how the proceeds are spent if other family embers disagree?

The rest of the family wants the funds to pay for the funeral which I agree upon. The remaining amount the family wants given to the son and grandson not the grandaughter which I do not agree with.

Asked on February 14, 2016 under Insurance Law, Nebraska

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Unless there exists some agreement directing how you should use the proceeds, as the listed beneficiary of the policy proceeds, they are yours to do with as you wish. If you want to use them to pay for funeral expenses, that's your choice. If you want to use the remaining proceeds to help other family members, again it's up to you who gets how much and when.


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