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William Thomas Schemmel

William Schemmel’s Answers

175 total


  • Does my ex have to provide a life insurance policy to cover our child?

    My ex doesn't want to take a life insurance policy for our son. Is there a law that's states he must have a policy to cover his portion/pro rata share of support until emancipation?

    William’s Answer

    In most states, absent a requirement in the divorce decree or property settlement decree, there is no such obligation. You should review your divorce paperwork and involve your attorney if you believe the documents may require your ex-spouse to provide such a policy.

    This information is subject to the disclaimer below.

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  • I got a letter today from life insurance wanting contact info for other estate members. Is it a scam? What info do I tell them?

    15 years ago my previous mother in law passed away, preceding the death of her husband few years later. I was unaware that I was included as a beneficiary in the estate on her life insurance until I received such a letter today claiming that I'm ...

    William’s Answer

    While it may seem unusual, it may be legitimate. A lot of insurance companies are cleaning up old "unclaimed property." If the benefits were not payable to you directly as beneficiary, but rather were payable to an estate, they would need to know who else would be included in the estate. Caution is warranted, but it might make sense for you to call the company and see if what I am talking about is the situation.

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  • If I file chapter 7, will that eliminate the loan I have on my life insurance policy without voiding the policy?

    it's not a term life insurance policy but one with a cash value.

    William’s Answer

    While I am not a bankruptcy lawyer, the last time I looked this up, it appeared to me that a life insurance policy loan is not a debt dischargable in bankruptcy. I assume you have a bankruptcy lawyer, and you should discuss this with him or her. If he or she is is unaware of it, the following is the citation for the case I found: In re Wall, 60 B.R. 512.

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  • Can a Insurance company pay out on a claim I filed for my late husband to his ex-wife of many years, that was never taken off as

    one of the beneficiary's? Do I have any rights at at all?

    William’s Answer

    • Selected as best answer

    My recollection is that OR law provides that divorce does not automatically revoke a life insurance beneficiary designation in favor of the ex-spouse; however, the issue can be dealt with in the divorce decree and property settlement. To obtain definitive legal advice, you would want to show the policy, beneficiary designations, and divorce papers to an OR attorney.

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  • What happens to a life insurance policy if the beneficiary dies 5 or so years before the policy holder?

    Husband and wife. Husbands siblings are handling burial. None of them have the money to bury him. They had no children together but the wife had children from a previous marriage. They were not in contact with husband since their mother died.

    William’s Answer

    It depends upon the language of the contract and the existing beneficiary designation. Generally, if there is a contingent beneficiary who survives the primary beneficiary and insured, he or she gets paid. In the absence of a contingent beneficiary, the policy usually dictates who gets paid. Often, the estate of the insured is paid in the situation you describe. As such, the policy proceeds in such a situation would typically flow to the heirs of the estate (by will or intestate succession.) It is critical that you read the policy language and, if in doubt, have it reviewed by a competent attorney.

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  • If someone had a life insurance policy and passed away and the beneficiary passed before them whom will be entitled to the claim

    would it be the children of the beneficiary or the policy holders children

    William’s Answer

    It will depend upon your contract, but generally when a beneficiary predeceases the insured, either a contingent beneficiary of the beneficiary of the insured receives the proceeds. So, to provide a definitive answer, an attorney would need to review the policy and existing beneficiary designations.

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  • I own a life insurance policy on my ex-husband and am the beneficiary. I live in Texas, he does not.

    Will I be able to to receive payment in the case of his death? We have 2 grown children that I have listed as second beneficiaries ?

    William’s Answer

    If you are the owner and beneficiary, and your divorce decree and property settlement did not affect your rights to own and be the beneficiary of the policy, you should be able to collect the policy proceeds if the policy is in force when he passes.

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  • Is it legal to take out life insurance policies on several people you know such as family members

    is it legal to take out life insurance policies on several people you know such as family members

    William’s Answer

    You can take out life insurance on family members or others if you have an insurable interest in them. Your insurance agent can help you determine whether a proper insurable interest exists in persons you would seek to insure.

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  • How do I get power of attorney for step mom who has alzheimer's and is unable to sign her name? She lives in California.

    We did see her doctor and he said if we had power of attorney for her husband, that this would cover her? We are unsure of this.

    William’s Answer

    More information is needed, including the severity of the Alzheimer's. If she is not legally competent, a POA is not an option, and guardianship would be necessary to obtain authority to act for her. I have never seen a joint power of attorney that would cover husband and wife in the same document, so it is probably unlikely that the POA for the husband would cover her. A lawyer would need to see it to give you a definitive answer.

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  • Life insurance question.

    I wanted to take out a life insurance policy but after I passed the physical the guy wants to know how much other money I have. He said to protect himself from taking my last cent! Do people ask this when one is gambling?

    William’s Answer

    Inquiry from the agent or company regarding income and assets is generally appropriate in selling and underwriting life insurance. I am unsure of the relevance of your last sentence. If either of you have a gambling problem, help is available.

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