Eight tips for grandparents raising grandchildren Sep 14, 2008
Consider setting up a trustee or contingent beneficiary for your under-age grandchild through your life insurance rather than naming the child as the direct beneficiary, as most grandparents who raise grandchildren do, according to the National Association of Insurance Commissioners. A minor generally cannot receive an insurance payout, which means the amount could get tied up in probate and not be readily available to the surviving child. (Montana Standard, MT)
Appeals Court reverses decision by Judge Sazama Dec 23, 2007
Jeanine was listed as primary beneficiary, and Blodgett as contingent beneficiary. In this case, Timothy is presumed to have revoked the beneficiary designation in favor of Jeanine when the two divorced. (Chippewa Falls Chippewa Herald, WI)
Allegations of an Affair and a Forgery Ensnare Beveridge & Diamond Oct 13, 2007
Lasater actually saw her interests as a contingent beneficiary enhanced. " But Lasater says she does not know what Guttmann did with the money he borrowed. ERISA lawyers agree that there appears to be no violation by Guttmann, but there is puzzlement over the loan being approved before Guttmann signed the promissory note. "It would seem odd that a firm would permit the execution of a promissory note well after the loan had been executed to the participant," says Kenneth Robbett, an ERISA lawyer... (Law.com)
Son arrested in slaying of Laceyville family Aug 12, 2007
State police noted in the affidavit that in March 2006, Marlene Colegrove obtained a $100,000 insurance policy, naming Joseph Colegrove as the beneficiary, and Michael Colegrove as the contingent beneficiary. One of the inconsistencies state police reported finding in Mr. Colegrove s statements is he first said he didn t know of his parents will information, but later said he did. (Scranton Times, PA)
