What is included in the estate?
My father left my 2 sisters and myself equal beneficiaries of his estate; cash and a paid-for home. My father also had a Federal Employees Life Insurance policy with the 3 of us as beneficiaries. We each completed paperwork upon his death and just recently each received a check. My oldest sister said that all these checks have to be deposited into the estate checking account and distributed once everything is settled. Is this true? I was under the impression that the life insurance was separate from the estate. Thanks.
1 Answer from Attorneys
Re: What is included in the estate?
Life insurance does NOT go in an estate account when there are named beneficiaries. It belongs to the named beneficiaries.