Estate Law Questions? Ask an Estate Lawyer.
Good morning. My name is ***** ***** I look forward to helping you this morning. Life insurance proceeds are not taxable to you. You have no tax obligation and no reporting obligation with respect to the receipt of life insurance proceeds. That money is all yours. Since your sister was alive at the time of your mother's death and survived your mother for 1 year, your sister's share of your mother's estate has vested in your sister and will pass pursuant to your sister's will even though your sister may have died before she actually received her share of your mother's inheritance.
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Thanks for following up. If your sister had a will and she named you as beneficiary of her estate in her will, then yes, you will get the money from your mother's estate. If she had no will, then the Massachusetts intestate succession laws would apply. Those rules would mandate her share of your mother' estate would pass first to any surviving spouse and/or children of your sister; then if none, to any surviving parent, then, if none, divided among you and your siblings.