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Will/Life Insurance?? |
If "John" is named as executor, in his mother's Last Will and Testament, and it states that "John" is to share equally with siblings any cash received from "real, personal, and mixed property", of the deceased----and "John" is also the sole beneficiary on the mother's Life Insurance policies, by law, is "John" required to share that cash with siblings? Legally no. Morally? Yes, John should consider including the life insurance proceeds as part of the estate. Sometimes our clients have a life insurance policy that they intend to help family with final costs, however, it doesnt always work out that way. No. Life insurance proceeds go directly to the named beneficiary. A will does not trump that unless the insurance policy beneficiary IS the deceased's estate. No, the life insurance is his. If she wanted it split, she needed to leave her estate as the beneficiary. No, if he is the sole Beneficiary on any policy, he, by law, does not have to split the money from the policy. Pretty interesting question.Suggest you visit here for useful tips.http://lifeinsurance.online-helpers.info... |
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