My parents took out a life insurance policy for my father when they married 40 years ago. As far as my mother can recall they are both trustees and beneficiaries. They divorced 30 years ago and the communication between them is not good. Is my mother entitled to any of the policy payout even though the policy itself is in my fathers name?:confused:

Thank you so much for your answers. Any help is appreciated. My father is still living and the policy has matured. ( I am using the terms supplied by my mother) She did sign a document re the policy for my father 12 months ago but has no idea what she signed ( I know this sounds unbelieveable but it is true). I suspect the policy has been paid out to him. We're just trying to establish if she is entitled to any of it. If not, why did she need to sign anything? Thanks again for all help.

I know basically what a "trustee" is and in detail what a life insurance "beneficiary" is but I believe you simply meant to say (and please correct me if my assumption is incorrect) that your parents 40 years ago purchased life insurance on your father then 10 years later divorced and did not change the beneficiary. You father subsequently passed away ? (he may still be living ?) and your question is this "Is my mother entitled to the death benefits?" If this is the case and your mother is still beneficiary, then yes, she will get the death proceeds. Now if this is a cash value type of life insurance and your father is still living, since he is the owner of the policy (you stated the policy is in your father's name) then only he is entitled to to the cash/loan values. Keep in mind that there are many different types of life insurance (there are more variations now than 40 yrs ago) so the info I have provided, of course, depends on the kind of insurance, the terms, i.e. ownership, beneficiary etc). If you could give some more details, it would help me and others give you an answer. Keep in mind also that your mother's best source of advice if probably an attorney however, if your mother simply needs to claim death benefits, then all she needs to do is file a claim on the policy as beneficiary. If the matter is more complicated such as involving trustees etc, and the amount of insurance, cash values etc is substantial, then employing an atty would make sense.

The owner of a policy can change beneficiary at any time

So which payout are you discussion, the payout when your father dies ?

At that time of death, whoever is the current beneficiariy is wll be paid the money from the policy.