Life Insurance Question

[Traviesa 0]

I have a free life insurance policy through work, and when I set it up I named my mom as the beneficiary since I wasn't married yet. I want to change that to be Javier since he is now my husband-the policy only asks for name and mailing address. Can I do that since he's in Mexico or would that not work? My mom seems to think that since we're married he would get 50% of it no matter what.

[john_and_marlene 162]

I changed beneficiary on all my retirement accounts and life insurance naming Marlene as the beneficiary while she was still in the Philippines. I just gave her name and address including country and listed her as fiancee.

If you name someone specifically on your life insurance I would think they would get the money and noone else would share in that unless also listed.

[Ban Hammer 13,483]

it's best to list him specifically. texas has a "by law" statement that people can put on legal documents like this which then follows the chain of spouse, children, and so on. but i find it best to list specifically who gets it just to prevent headaches for the beneficiary just in case the worst does happen.

[Traviesa 0]

Does it matter that we married under "separacion de bienes" which I guess translates to separation of goods, meaning half and half? Or does that not have anything to do with this?

[john_and_marlene 162]

I think the thing that matters most is that you currently have a specific person listed as beneficiary that is not the person you want to receive the payment.

[Traviesa 0]

Ok so basically the answer is yes, it can be him; and yes, I need to change it. Got it. Thanks!!