Legal Question in Wills and Trusts in Florida

Insurance proceeds and estates

If one person named in the will is a beneficiary of a life insurance policy, is that money included in the estate to be split between all parties named in will, or is that money separate from will and only for the named beneficiary?

The personal possesions of the deceased person are left to the 2 daughters. All the financial assets are to be split between the 2 daughters and 2 sons, equally.

Asked on 10/19/04, 3:05 pm

2 Answers from Attorneys

Craig Dorne Craig M. Dorne, PA

Re: Insurance proceeds and estates

NOTE: This communication is NOT intended as and should NOT be interpreted as legal advice. Rather, it is ONLY provided FOR a general discussion of legal principles. The facts you provided DO NOT provide ALL of the details necessary to FULLY and PROPERLY respond to the question you have posed. You should NOT rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney´┐Żs individualized advice for you. By reading the Response below, you AGREE: (i) that the opinion expressed is NOT intended to be legal advice and DOES NOT constitute legal advice to you or any person reviewing such information; and (ii) DOES NOT, create any attorney-client relationship and WILL NOT be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Reply: Life insurance generally passes separate and apart from the estate unless the estate is the beneficiary.

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Answered on 10/19/04, 3:41 pm

Re: Insurance proceeds and estates

Life Insurance proceeds along with certain other assets (i.e. property with right of survivorship provisions) will be distributed to the named beneficiaries even if the will names someone else. Should you have further questions, please do not hesitate to contact me.

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Answered on 10/19/04, 3:49 pm

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