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Do I have to put my dads life insures in inventory if there

was a beneficiary...
Do I have to put my dads life insures in inventory if there was a beneficiary
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Answered in 5 minutes by:
11/18/2013
LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 11,483
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
Verified

LegalGems :

Hi; My goal is to provide you with great service - if you have any questions during our chat, please ask! I'll do my best to ensure your satisfaction!

LegalGems :

I'm sorry for your family's recent loss. The policy names an individual and not the estate?

JACUSTOMER-bus8hiai- :

Why does probate court want me to list it

LegalGems :

Did the policy name the estate as the beneficiary?

JACUSTOMER-bus8hiai- :

No It was me

LegalGems :

OK, then that would pass outside of probate - it is not part of the probate estate.

JACUSTOMER-bus8hiai- :

So I don't have to tell them

LegalGems :

Just to be clear, who is asking? Anything that passes outside of probate is none of the court's concern. For example, bank accounts that have a listed beneficiary go directly to the beneficiary, and does not go through probate and is not listed on the inventory. Same applies with life insurance policies.

JACUSTOMER-bus8hiai- :

The inventory instructions has it on the list it says life insurance, annuities ,mutual funds.

LegalGems :

Yes that would be if it named the estate as the beneficiary. Some people name the estate, so then the proceeds pass via the terms of the will or the laws of intestate succession.

JACUSTOMER-bus8hiai- :

Ok thanks a lot you will property here from be again .Im so confused.

LegalGems :

The probate process can be very confusing. If you have future questions, just put To Legal Gems in front of the question and I will do my best to assist. You may want to consider a subscription as it seems people with probate and/or divorce issues do better getting a subscription. You would need to contact customer service as I know nothing about the terms though.

LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 11,483
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
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LegalGems
LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 11,483
11,483 Satisfied Customers
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor

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