Q&As

H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

read titleRead full title
Published on LexisPSL on 03/11/2016

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

This Q&A assumes that:

  1. the policy endorsement refers to section 11 of the Married Women’s Property Act 1882

  2. the endorsement was in favour of the assured’s wife, W, only

  3. W had an absolute interest in the proceeds of the policy

Our research is also restricted to considering whether the trustees of the policy can surrender it

Related documents:

Popular documents