Home  >  

Archives: 2016 July

What Happens When an Insured Under a Life Insurance Policy and a Beneficiary Die Simultaneously in Tennessee?

Posted on Jul 31 2016 4:25PM by Attorney, Jason A. Lee

Sometimes an individual who has a life insurance policy dies at the same time as a beneficiary.  Obviously, this does not happen very often, but it does happen on occasion.  Most often, when this occurs, it is simply just impossible to determine who actually died first.  In Tennessee, we have a statute that addresses this exact situation.  T.C.A. § 31-3-105 provides that when an insured and beneficiary under the policy die simultaneously, then the proceeds of that policy are distributed as if the insured under the policy had actually survived the beneficiary.  The actual language of the statute is as follows:

 

Where the insured and the beneficiary in a policy of life or accident insurance have died and there is no sufficient evidence that they have died otherwise than simultaneously, the proceeds of the policy shall be distributed as if the insured had survived the beneficiary.

 

As a result, the life insurance money does not go to the beneficiary who died at the same time under these circumstances.  Instead, the money is distributed pursuant to alternative means under the life insurance policy (such as contingent beneficiaries or even into the estate of the insured).  As a result, if you are involved with a situation where the life insurance policyholder and a beneficiary die at the same time, you should consult a Tennessee attorney who is experienced in handling life insurance issues.

 

Follow me on Twitter at @jasonalee for updates from the Tennessee Wills and Estates Blog.
Continue Reading  
TAGS: Life Insurance Comments [0]
  
 

Tennessee Allows Signatures on Affidavit to Will to Satisfy Statutory Witness Signature Requirement for Wills Executed Prior to July 1, 2016

Posted on Jul 4 2016 5:25PM by Attorney, Jason A. Lee

The 2016 Tennessee legislature passed Public Chapter 843 and it changed Will execution witness requirements for certain Wills executed prior to July 1, 2016.  This statute was passed in order to address a problem that came up due to recent Tennessee Court of Appeals decision.  The Tennessee Court of Appeals decision was In Re: Estate of Bill Morris, 2015 WL 557970 (Tenn. Ct. App. 2015).  I previously blogged on this case here.  In the Morris case, the Tennessee Court of Appeals found that witness signatures on the Affidavit attached to the Will are not the same as having the witnesses actually sign the Will.  As a result, the Court found that a Will is not valid when the witnesses only sign the Affidavit attached to the Will.

 

The Tennessee legislature essentially reversed this case by amending T.C.A. § 32-1-104.  This amendment provides that for any Wills executed prior to July 1, 2016, a witness signature affixed to an Affidavit which meets all of the requirements for witnesses under Tennessee law shall be considered signatures to the Will.  However, this statutory change requires that the signatures are made at the same time the Testator signs the Will and that the Affidavit contains language meeting all of the requirements of T.C.A. § 32-1-104(a).  As a result, T.C.A. § 32-1-104 now reads as follows (the new section that is added is subpart (b)):

 

(a) The execution of a will, other than a holographic or nuncupative will, must be by the signature of the testator and of at least two (2) witnesses as follows:

(1) The testator shall signify to the attesting witnesses that the instrument is the testator's will and either:

(A) The testator sign;

(B) Acknowledge the testator's signature already made; or

(C) At the testator's direction and in the testator's presence have someone else sign the testator's name; and

(D) In any of the above cases the act must be done in the presence of two (2) or more attesting witnesses.

Continue Reading  
TAGS: Wills, Witnesses to will, Will Contest, Tennessee Probate Law Comments [0]
  
 
Author

Jason A. Lee is a Member of Burrow Lee, PLLC. Contact Jason at 615-540-1004 or jlee@burrowlee.com for an initial consultation on wills estate planning and probate issues.

Search
Enter keywords:
Subscribe   RSS Feed
Add this blog to your feeds or subscribe by email using the form below
Copyright © 2018, Jason A. Lee. All Rights Reserved
Tennessee Wills and Estates Blog
Jason A. Lee, Member of Burrow Lee, PLLC
611 Commerce Street, Suite 2603
Nashville, TN 37203
Phone: 615-540-1004
E-mail: jlee@burrowlee.com

PRIVACY POLICY | DISCLAIMER