Legal Question in Wills and Trusts in New York

My ex husband has to keep a $1 million dollar life insurance policy with me as sole beneficiary until I'm remarried for 2 years.

He currently has a $2 million dollar policy with me as 50% beneficiary and his wife 50% beneficiary. Policy was a 10 yr term and expires this Feb. Aside from the obvious, what is my argument for insisting on separate policy?


Asked on 11/11/13, 8:29 am

2 Answers from Attorneys
Arnold Nager Arnold H. Nager, Esquire

That if he fails to pay the pre,mium, you will and seek to collect from him. You don't want to pay for his wife.

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Answered on 11/11/13, 8:34 am
Walter LeVine Walter D. LeVine, Esq.

I agree with Arnold, although a single policy might be less expensive than 2 policies. More important is that the policy be renewed at termination or a new policy be substituted.

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Answered on 11/11/13, 8:46 am


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