Was Bequest to Snowflake a Mistake?, Elder Law Attorney, Woodstock, GA - Nelson Elder Care Law & Estate Planning in Georgia
Required

Was Bequest to Snowflake a Mistake?, Elder Law Attorney, Woodstock, GA


What would you do if 10 years after receiving a life insurance bequest, the insurance company asked for the money back claiming it had made a mistake? The town of Snowflake, Arizona is currently facing that dilemma.

In 2005, Snowflake, Arizona received a life insurance bequest of approximately $73,000. The holder of the policy had been a former employee of the town and it was probably presumed at the time that he wished to give something back to it.

Recently, however, First Colony Life Insurance asked the town to return the money.

It seems the insurance company claims that a mistake was made and the town never should have been listed as a beneficiary on the policy. Before making a decision about what to do, the town is looking into the matter.

Naturally, the council would like to know why the company believes a mistake was made and whether the town has a legal obligation to return the money.

The Arizona Journal reported the story in an article titled “Bequest To Town Was Made In Error, Says Insurer.”

This is an unusual case and it is impossible to speculate on what might happen. To date, the insurance company has not released details about what happened and why it believes a mistake was made.

Nevertheless, when you are creating an estate plan it is very important that any life insurance policies you have state clearly who the beneficiaries are.

The clearer your policy is, the less likely it is that mistakes will happen.

It would be disastrous if you use life insurance to balance your estate between relatives and the money does not go to the proper beneficiary.

Contact an experienced estate planning attorney for help to ensure that your estate wishes are crystal clear.

Reference: Arizona Journal (May 20, 2015) “Bequest To Town Was Made In Error, Says Insurer.”

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben