Readers Question: I live in East Canadian, Okahoma, I have 2 brothers and my parents died recently and left me sole beneficiary to their life insurance policy. My brothers insist that I share the money from the life insurance with them equally. So, I to know if the beneficiary of a life insurance policy is obligated to share benefits with family members or not?

Lorie

Answer to Readers Question:

You are not obligated, so far as I know. The money from the life insurance policy belongs to the named beneficiary, regardless of who else thinks they should get some of it. Now, if there were instructions in your parents will regarding the use of that money from the life insurance policy then that might change things.