Is it necessary to put a life insurance policy on deacedent’s estate inventory?

UPDATED: Oct 5, 2014

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Is it necessary to put a life insurance policy on deacedent’s estate inventory?

There is life insurance on a husband and it is owned by his wife; the beneficiaries are his children. Also, do I need to also list his annuity on the inventory; his wife automatically gets paid half for the rest of her life?

Asked on October 5, 2014 under Estate Planning, Colorado


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Assets such as life insurance proceeds, annuities and the like (IRA's 401k's, etc) that seperately name beneficiaries pass outside of an estate. Therefore, they are not subject to probate and so need not be listed in the inventory of an estate. For further advise, you should seek counsel from a local probate attorney.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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