another probate and estate question
My father-in-law passed away in January of 2009. He died without a will and his estate was deemed insufficient to pay for his liabilities. There was nothing to be distributed to his heirs. However it has been discovered that one of his sons is the sole beneficiary of a life insurance policy that no one knew he had. What are the options of the family as far as the insurance policy is concerned. Does this life insurance have to be turned over as an asset to the estate? Does the rest of the family have the ability to get some of the insurance?
1 Answer from Attorneys
Re: another probate and estate question
Unless the beneficiary is the estate, then estate gets nothing from the insurance policy.