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LawTalk
LawTalk, Attorney
Category: Legal
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Experience:  I am a practicing attorney with more than 3 decades of experience in the legal field.
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I got a letter from my ex husband's company stating that I

Customer Question

I got a letter from my ex husband's company stating that I am a beneficiary. I don't understand whether I am suppose to give my adult children 50% of the benefits. This was created when my children were minors.
The following paragraph is what is stated in my divorce papers: "It is further ordered, and pursuant to the stipulation of the parties, that the Plaintiff shall continue to maintain life insurance upon his own life through his employment in the principal sum of three hundred thousand ($300,000.00) dollars with fifty (50%) percent thereof provided to the Defendant as beneficiary and the other fifty (50%) percent thereof to the defendant as trustee for the benefit of the children as beneficiaries.
Please email response to: ***@******.*** whether I still am suppose to distribute the 50% to my children as they are no longer minors.
Submitted: 1 year ago.
Category: Legal
Expert:  LawTalk replied 1 year ago.

Good afternoon,

I'm Doug, and I'm very sorry to hear of the confusion. My goal is to provide you with excellent service today.

Based on the court order---and presuming that you are referring to a life insurance policy and not a beneficiary of a pension policy, then if you are to be paid the proceeds of the life policy, obviously you are entitled to the half that was ordered to be paid to you for your use.

Because you were ordered to act as a trustee of the other half of the policy, then despite the fact that your children ate adults now, the court order requires that you turn over the other half of the proceeds to your children. The court order did not specify that the money for the children would only be applicable if they were not yet adults, and therefore as the trustee your present obligation is still to collect the money for the benefit of your children. As they are adults now, you should disburse the money directly to them.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please remember to rate my service to you so that I can be compensated for helping you. Thank you in advance.

I wish you and yours the best in 2015,

Doug

Customer: replied 1 year ago.
Thank you Doug for your help in this matter!!!
Expert:  LawTalk replied 1 year ago.

Thank you for your kind words. They are appreciated.

Please understand that in order for me to be compensated for having helped you, I need for you to positively rate my service to you by clicking on the rating stars---three stars or more. It is that easy.

Thanks in advance.

I wish you the best,

Doug

Expert:  LawTalk replied 1 year ago.

Good morning,

Just checking in to ask if there is anything more that I can assist you with. It would be my pleasure.

Doug

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