by Guest » Tue Jul 14, 2009 01:55 am
My Grandmother passed and my brother was left executor of the will, He refuses to provide my other siblings and I with a copy of my grandmother's life insurance policies, we live in the state of georgia can he do that?
Posted: Tue Jul 14, 2009 06:42 am Post Subject:
Hello Guest,
Why do you need the copy of the life insurance policy of your grandmother? Are you a named beneficiary in her policy?
An executor can't stop the beneficiary from receiving the death benefits. If the policy has a named beneficiary it'd not get included in the estate of the deceased and an executor's duty is limited to executing the clauses of the will of the decedent and pay-off her debts.
Thanks,
Rupert
Posted: Tue Jul 14, 2009 05:10 pm Post Subject:
There are many reasons that an executor may not want to show family members a policy. For example, it could cause hurt feelings when some find out they have much less, etc.
That being said, there is absolutely nothing that could be done to stop an insurance policy from being paid out. The executor simply is executing the wishes of the will as pertaining to the estate. If anybody is listed as a single beneficiary, then they will receive money outside of the estate.
If the will says everybody gets a share of the final estate, then it's really not a beneficiary situation. In this case the insurance probably has the estate listed as the beneficiary.
Good Luck!
Posted: Tue Aug 11, 2009 01:45 pm Post Subject: Probate will
Does an executor of a will in Dallas county Texas, receive a certain percentage of the estate for handling the executorship of a probated will?
Posted: Sun May 31, 2015 02:07 am Post Subject: Life ins
I am executor of estate of my dad. My dad recently passed away. His life insurance I am the named beneficiaries for over 25 years... Do I have to share with estate? Also ido I have to show policy to heirs , even if they has hired a lawyer and he has requested insurance policies for review.
Posted: Sun May 31, 2015 02:09 am Post Subject: Life ins
I am executor of estate of my dad. My dad recently passed away. His life insurance I am the named beneficiaries for over 25 years... Do I have to share with estate? Also ido I have to show policy to heirs , even if they has hired a lawyer and he has requested insurance policies for review.
Posted: Wed Jun 03, 2015 10:52 am Post Subject:
Do I have to share with estate?
Life insurance is a "non-probate" asset. If the death proceeds of the policy are designated to a named person who was alive when the insured died, that named person is entitled to the proceeds. There can be some complications involving a spouse in a community property state, but that's a different discussion. In this instance, the proceeds are not subject to being shared with the estate.Also ido I have to show policy to heirs , even if they has hired a lawyer and he has requested insurance policies for review.
In the interest of fairness and transparency, there is no reason not to do so. If the policy has been in force for 25 years, and the beneficiary was never changed during all that time, there is nothing for anyone to contest, so revealing the policy is not going to alter the outcome.Add your comment