Thank you to the Estate Planning Section of the Collin County Bar Association for hosting my presentation on life insurance beneficiary disputes. The presentation was on December 8 and included the following topics:
Common dispute areas
- The will contest in disguise – undue influence/lack of capacity
- Attempted beneficiary changes – doctrine of substantial compliance
- Designations in favor of ex-spouses – Texas Family Code – Texas Estates Code
- Agreements incident to divorce – QDRO – waivers – agreements to make designations
- Community property claims – constructive fraud on the marital estate
- Disqualification of a beneficiary – slayer statute
Texas or Federal Law
- The first question
- ERISA – why it is so important
- How to determine if ERISA applies
Resolution
- Interpleader
- Putting the life insurance company on notice of a dispute
- Typical insurance company response, the “pre-interpleader” letter
- State or federal court
- Negotiation tips
