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cityguru
cityguru, Solicitor
Category: Property Law
Satisfied Customers: 13329
Experience:  solicitor
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If I had taken out a life policy on my wife and a life policy

Customer Question

If I had taken out a life policy on my wife and a life policy on myself and the house was in my wife's name, and my wife has made a will leaving every thing to her daughter when she died, would the proceeds be included in her will if her solicitor said that I should not benefit from any profit gained by her death, or should I receive the money from the life policy?
Robert Vanson Dated 2nd november 2013
Submitted: 4 years ago.
Category: Property Law
Expert:  cityguru replied 4 years ago.
Thank you for the question. If the policy was taken out by you then you are entitled to the proceeds. It is perfectly possible to take out a policy on someone else's. Life. a policy on your own life will fall into our estate unless it was written in trust.
Customer: replied 4 years ago.

If I had taken out a life insurance policy on my wife, the house was in my wife's name, and my wife has made a will leaving everything to her daughter, when she died the will states that I am not to have any financial gain from my wife’s death, would this include the life insurance in which I took out, also I am the sole beneficiary to the said life insurance which is not in the will?

Expert:  cityguru replied 4 years ago.
It is not up to your wife's solicitor to say that you cannot benefit from her death . If you are the beneficiary then the policy will pay you. It can of course form part of any settlement if you are in the process of a matrimonial dispute