if i make someone a beneficiary to my life insurance and have a letter from that person stating he will give the money to my grandchildren, will that hold up in court if he fails to do that?
Answer
NO. HE OR SHE CAN CHANGE HIS (HER) MIND WITHOUT CONSEQUENCE. NAME "______________________ (SOMEONE) FOR THE BENEFIT OF THE CHILDREN JOHN AND MARY SMITH TO BE DIVIDED EQUALLY AMONG THE CHILDREN" ON THE BENEFICIARY FORM. CHANGE YOUR BENEFICIARY FORM TO DO THIS.
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