853.17 Effect of will provision changing beneficiary of life insurance or annuity. - Wisconsin Statutes

853.17

853.17 Effect of will provision changing beneficiary of life insurance or annuity.

853.17(1)

(1) Any provision in a will which purports to name a different beneficiary of a life insurance or annuity contract than the beneficiary properly designated in accordance with the contract with the issuing company, or its bylaws, is ineffective to change the contract beneficiary unless the contract or the company's bylaws authorizes such a change by will.

853.17(2)

(2) This section does not prevent the court from requiring the contract beneficiary to elect under s. 853.15 in order to take property under the will; nor does it apply to naming a testamentary trustee as designated by a life insurance policy under s. 701.09.