Effective July 1, 2012, a new Florida law (new Section 732.703, F.S.) takes effect concerning beneficiary designations on life insurance policies, annuities, IRAs, 401ks and other employee benefit plans.Tens of thousands of holidaymakers who battled the odds to get back into Britain following the volcano eruption in Iceland, may find themselves out of pocket when they come to make a claim on their insurance.
The district court granted summary judgment to Pruco on its claim.
On July 9, 2010, approximately four years after it had issued the Berger policy, Pruco filed suit against Wells Fargo asserting that the policy was void ab initio for lack of an insurable interest, as required by § 627.404. Then, on February 13, 2008, Pruco received a request to change the ownership and beneficiary of the policies from the Guild Trust to securities intermediary, U.
This is because, if you have an accident, insurers could refuse to pay out on the grounds that all animals need to be secured when being transported in a car.
Worringly, a recent survey by price comparison site u Switch found that almost one in five motorists who have a pet don’t restrain them while transporting them.
For their participation in this insurance policy transaction, the Bergers received a payment of nearly $173,000 from Brasner in May of 2008. It was understood that Guild's daughter would not receive the death benefit from the policies and that any beneficial interest would eventually be sold to an investor with no insurable interest in Ms. In support of the applications, Richardson submitted a fraudulent financial statement portraying Guild's net worth as $19.2 million and annual income as $345,000. Bank asserting that the policies were void ab initio under § 627.404.
At some point, ownership of the Berger policy was transferred to the trust. Richardson then submitted two life insurance applications to Pruco, each seeking a million policy and listing Guild's daughter as primary beneficiary and the trust as contingent beneficiary.
Thus, any provision in a Will or Revocable Trust purporting to leave assets to an ex-spouse (assuming the Will or Trust provisions were executed prior to the dissolution or annulment of the marriage) will be treated as void.
Essentially, the current statutes treat the ex-spouse as if she/he died at the time of the dissolution of the marriage or annulment, unless the Will, Revocable Trust, or final judgment (which might incorporate terms of a marital settlement agreement) provide otherwise.
According to Axa, an estimated 10 million people plan to drive their cars abroad this summer.