LIFE Insurance Beneficiart

I have always made more money as I made sure our family could LIVE. Since we have been married 35 years, we have life insurance policies that I have been paying for. Since we both are in our 60’s , we can’t afford to lose these so I will make sure they are paid after the separation. My question is, can I MAKE him keep MY name as beneficiary since I have PAID the premiums all these years ? I don’t want to die and have my granddaughter or other family have to cough up the costs. I am also thinking of doing a pre paid arrangement with a funeral home assignment to make SURE my wishes are honored and paid for. My spouse is honest but he is starting to show mental issues and I want to be protected.

You and your husband can agree in a separation agreement about who each other will maintain as beneficiaries to their life insurance policies, but this is only typical for when the parties have minor children.

Ordinarily your life insurance policy would be distributed to you and you have to pay the premiums and can choose who you want as your beneficiaries, and vice versa with your husband.

It is irrelevant who paid the premiums throughout the marriage when it comes to distributing the property in equitable distribution.

You should also update your will and estate plan after a separation/divorce.

Anna Ayscue

Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest

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