In: Finance
Lacey’s husband, Richard just died. He named their son TY as the beneficiary on all of his accounts and insurance policies. You are the CFP Does Lacey have the right to collect all the money on behalf of TY as his mother from you? Why or why not ?
As per the primary beneficiary is minor then lumpsum amount taken away by legal guardian .
In the given question lacey`s son TY as primary beneficiary
So he only collect that policy amount from polices not by his mother etc
If his mother is a secondary benifeciary she collect the amount