We took out an endowment mortgage in the 90’s but have since divorced. I now discover that the policy is still in joint names with my ex-wife. What will happen in four years time when the policy matures?
This should have been dealt with when you divorced. If you were to die, your ex-wife may be able to argue that the death benefit belongs to her. The policy should have been assigned to one of you, usually whoever kept the house; or the policy could have been cashed in and the proceeds split. In any event its value should have been taken into account in the divorce settlement. You should go back to your solicitor and suggest they sort this out at no cost to you. It may still be possible to have the policy signed over to you.