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I need advice on how to proceed with an insurance policy. I was divorced in 1996. A Court Order set out the financial arrangements for the division of assets amongst which was a jointly held endowment policy used for house purchase. This joint policy was to be assigned to me alone and a document was drawn up, signed by my ex-wife and me and witnessed. In the ensuing chaos, the assignment document was not sent to Standard Life.
Time passed. My memory of the endowment was jogged when another endowment matured and was paid - this policy was in my name alone. More time passed and I applied to Standard Life in connection with the assigned policy. By this time (2016), the "policy" had matured and now amounted to a sum of money. I provided Standard Life with copies of the Court Order, the Deed of Assignment and a letter from my ex-wife that she had no interest in the "policy". Standard Life responded by stating that they would not pay out the matured value of the policy UNTIL they had a letter of agreement between myself and ex-wife regarding the disposal of the value.
I wrote to my ex-wife (who now resides in Spain) and eventually, I received a reply - she wants a 50/50 split. I find this completely unacceptable.
Standard Life seem unshakeable in their view that there must be a current agreement regarding the matured value of the assigned policy.
Questions. Is there a legal reason for Standard Life's position? Or is it an internal policy? What steps can be suggested to ensure the value is paid to me alone, as the deed of assignment clearly sets out? Are there solicitors out there experienced in this sort of problem?
Many thanks for reading through this sorry tail of the consequences of procrastination (if only I'd ............) and special thanks to those who take the trouble to respond.
Time passed. My memory of the endowment was jogged when another endowment matured and was paid - this policy was in my name alone. More time passed and I applied to Standard Life in connection with the assigned policy. By this time (2016), the "policy" had matured and now amounted to a sum of money. I provided Standard Life with copies of the Court Order, the Deed of Assignment and a letter from my ex-wife that she had no interest in the "policy". Standard Life responded by stating that they would not pay out the matured value of the policy UNTIL they had a letter of agreement between myself and ex-wife regarding the disposal of the value.
I wrote to my ex-wife (who now resides in Spain) and eventually, I received a reply - she wants a 50/50 split. I find this completely unacceptable.
Standard Life seem unshakeable in their view that there must be a current agreement regarding the matured value of the assigned policy.
Questions. Is there a legal reason for Standard Life's position? Or is it an internal policy? What steps can be suggested to ensure the value is paid to me alone, as the deed of assignment clearly sets out? Are there solicitors out there experienced in this sort of problem?
Many thanks for reading through this sorry tail of the consequences of procrastination (if only I'd ............) and special thanks to those who take the trouble to respond.
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