Legal Question in Wills and Trusts in Alabama
Probate Problem
My sister named me as beneficiary of her life insurance and 401K. She left 25% ''tangibles'' to each of her two grandchildren not be to be received until they reach 25. They are currently 22 and 19. The probate judge will not close out the estate citing the will is ''vague''. His ruling specifies 1)the petition does not establish the testamentary trust is funded and the trustee consents, and 2)the attempted consent on behalf of the devisees does not show the devisees are over 25 years of age. What is the problem? What recourse do I have? Is he saying I now have to give the grandchildren the 401K and life insurance?
2 Answers from Attorneys
Re: Probate Problem
Life insurance and qualified retirement plans have beneficiary designations that cause proceeds to travel directly to the recipient, outside of a will. Because of this, a probate court has no jurisdiction over those proceeds unless they were left to the estate. If you were left 25% of the life insurance proceeds you can collect those directly from the insurer.
Re: Probate Problem
The beneficiary of the life insurance and 401(k) can apply directly to the respective companies for direct payment. The probate court has nothing to do with those.
As to the rest, that is too complicated to answer without having the benefit of reviewing the will, the court's ruling and any other relevant documents. You should contact a local attorney for a consultation and document-review session.
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