[WSBAPT] Common Disaster Clause and Life Insurance

Thu May 6 17:05:42 PDT 2021

Thanks all for confirming what I believed, despite getting this clause pointed out to me.

Happy Friday Eve!

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image005.jpg at 01D74299.F7465490]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>
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For the latest information regarding firm operations and precautions in light of the Coronavirus please visit our firm's website: www.WestSeattleLaw.com<http://www.westseattlelaw.com/>.

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Roger Hawkes
Sent: Thursday, May 6, 2021 4:50 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>; KCBA Real Property, Probate and Trust Law Discussion List <realpropertyprobatetrustlaw at lists.kcba.org>
Subject: Re: [WSBAPT] Common Disaster Clause and Life Insurance

I concur.

Roger Hawkes, WSBA # 5173
Shoreline Office: 19944 Ballinger Way NE
                                Shoreline, WA 98155
Sultan Office:        423 Main
                                 Sultan, WA 98294

Phone: 206 367 5000; fax: 206 367 4005
Email: roger at law-hawks.com<mailto:roger at law-hawks.com>
Web site: www.hawkeslawfirm.com<http://www.hawkeslawfirm.com/>
[cid:image007.jpg at 01D74299.F7465490]

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Philip N. Jones
Sent: Thursday, May 6, 2021 4:23 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>; KCBA Real Property, Probate and Trust Law Discussion List <realpropertyprobatetrustlaw at lists.kcba.org<mailto:realpropertyprobatetrustlaw at lists.kcba.org>>
Subject: Re: [WSBAPT] Common Disaster Clause and Life Insurance

I question whether a life insurance company would honor this language if the beneficiary designation on the policy listed individuals as the primary and secondary beneficiaries, or the default clause in the policy directed the proceeds to an individual, rather than to the estate.  The life insurance company would argue (correctly) that they are bound by their policy and their beneficiary designation, not by a will.  And the policy might have its own survivorship clause.  The will rarely has anything to do with the disposition of life insurance proceeds (despite many of our clients who believe to the contrary).
On the other hand, if the policy is payable to the estate, then the estate would be governed by the will.  And that would be none of the life insurance company's business.
Phil Jones

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Heather de Vrieze
Sent: Thursday, May 6, 2021 3:14 PM
To: 'wsbapt at lists.wsbarppt.com' <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>; KCBA Real Property, Probate and Trust Law Discussion List <realpropertyprobatetrustlaw at lists.kcba.org<mailto:realpropertyprobatetrustlaw at lists.kcba.org>>
Subject: [WSBAPT] Common Disaster Clause and Life Insurance

Dealing with deaths from a common accident, the following clause is in a "RocketLawyer.com" Will. If each spouse is the primary beneficiary of policies on the other's life, is there any likelihood that an insurance company will pay proceeds to spouse's estate rather than contingent or default beneficiaries? Presume this is the scenario we want. Contingent or default beneficiaries is not a good solution and the hope is that the insurance money can equalize the estate values for WA estate tax purposes, to ensure both estates benefit from the full exclusion amount.

[cid:image008.png at 01D74299.F7465490]

Appreciate any input.

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image009.jpg at 01D74299.F7465490]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>
Click here to connect with de Vrieze | Carney on Facebook:   [FB Logo] <https://www.facebook.com/DeVriezeCarney>

For the latest information regarding firm operations and precautions in light of the Coronavirus please visit our firm's website: www.WestSeattleLaw.com<http://www.westseattlelaw.com/>.

CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.

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