Year: 1930
Type: article
Abstract: I N A former article it was shown that the disabilities surrounding the property rights of married women were at a very early day removed.Following the separate property act of 1850 came the next act of greatest importance in Chapter 158, Laws of 1851, which did away forever with the principle of the common law right enjoyed by the person who insured his own life for the benefit of his wife or infant child that such person was the real owner of the policy of insurance, where he paid the premiums himself, and that therefore such person enjoyed the right to drop the insurance at pleasure or change the beneficiary without restriction or regard to any rights of the wife or minor child who had been named the beneficiary.Chapter 158.Laws of 1851, now Section V46.09, provided that any policy of insurance taken for the benefit of any married woman or to any person in trust for her benefit regardless of who takes it out shall:First: Inure to the benefit of such married women named as beneficiary andl her children.Second: That the same shall be her separate property.Third: That in case of her survival of the term of such policy, the insurance money shall be payable to her or to her trustee for her benefit.Fourth: That such insurance is free from the control of her husband or of any person effecting such insurance.Fifth: And free from any claims of the creditors of her husband or those of any other person who may have effected such insurance.This law expressly placed such insurance in the same class with the separate estate of a married woman and has remained substantially the same to the present day.It is undoubtedly one of the most beneficient enactments for married women ever passed and second in importance only to the separate property act of 1850.An amendment, Section 1, Chapter 71, Laws of 1889, later limited the amount that could be paid in annual premiums by any person taking out such insurance with intent to defraud his creditors to the sum of $150.00, with the provision.that the excess of such amount of premiums should
Source: Marquette law review
Author: Claude D. Stout
Institution: Marquette University
Language: English
Topic: Family and Matrimonial Law
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
SDG: Reduced inequalities
Open Access status: green
OpenAlex ID: W1536016529