No. of Recommendations: 0
A relative took out a life insurance policy years ago and listed "unnamed children" as the beneficiary. At the time, they had several children but later had another. The relative died recently and the family went to make the insurance claim.

So who is included in this? I'm not familiar with how this works.

Seems to me that it should be all of the children: those born before and after the policy was taken out. If the relative had wanted only the first set of children then they would have been specifically named on the policy. I suspect they wanted to allow for the possibility that they may have more children (even tho' they were in their 40's) and did have another.

I will x-post to the Estate Planning board.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.