How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ronan Your Own Question
Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 2206
Experience:  B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
Type Your Republic of Ireland Law Question Here...
Ronan is online now
A new question is answered every 9 seconds

life insurance proceeds with no named beneficiaries

This answer was rated:

Do life insurance policy proceeds with no named beneficiaries become part of the estate? My aunt died leaving her US investments to her US relations. She died with 2 life insurance polices with no named beneficiaries. Would the proceeds from the life insurance fall outside the estate?

Yes, they would form part of her estate. Only policies nominated beneficiaries fall outside the estate. If she has a will and these are unnominated policies are not mentioned they fall into the residue of the estate and are dealt with either by a residuary clause in the will or if same isn't contained in the will by way of intestacy
Customer: replied 3 years ago.

The will state that monies invested in America are left to my American nephew and nieces. Would the proceeds from the American life insurance polices going into the estate flow to the American heirs or do they remain in the residue? The residue beneficiaries are the Irish nephews and nieces

If this is how it is phrased then unfortunately its been very poorly drafted and is open to challenge on the grounds of uncertainty. They're for a number of reason
1. What qualifies as an investment? Probably arguable that a life assurance policy does
2. What qualifies as American ie, American companies not based in America American Citizen, living in America, Illegally living in America

Notwithstanding this, on the face of it, it would appear to suggest that it was intended to go to the American Nephews and Nieces.
Ronan and other Republic of Ireland Law Specialists are ready to help you

Related Republic of Ireland Law Questions