Can I change the beneficiary on my life insurance policy in my Will?
No. A life insurance policy is a non-probate asset which is controlled by contract. Any asset that you own for which you filled out beneficiary paperwork is likely a non-probate asset, controlled by contract. If you wish to change the beneficiaries for a contract-controlled asset like a life insurance policy, you should contact the vendor directly and follow their instructions.
If you have questions about whether a particular asset is a non-probate asset or would like to create or update your estate plan, contact a Toms River attorney at Costanzo & Russom Law Group for assistance.