Question
What is the name of your state? What is the name of your state? TX
I have a term life insurance policy with my brother as the beneficiary. Since TX has community property law, do I need to get a document from my wife indicating that she waives all her rights in that policy. Should this be sent to the insurance company (I checked with the insurance company and they say that there is no need for anything, and I think there is a inherent condtradiction with the law), or should I just keep the signed document with my brother along with the policy. Would appreciate any suggestions. Thanks.
Answer
*bump* so maybe someone will answer.
I'm not an attorney but I'll give you my advice anyway until someone else jumps in. I think you need something signed by spouse. I know my policies and agent told me it is automatically spouse and you can put in a secondary person.