If a notarized Will is in conflict with a life insurance policy, which document prevails?
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If a notarized Will is in conflict with a life insurance policy, which document prevails?
A mother of a 16 year old child died; she had a life insurance policy. The policy states that the money goes to the child’s guardian. However, her notarized Will names another person to handle all financial issues regarding
her estate.
Asked on December 31, 2018 under Estate Planning, California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Proceeds from a life insurance policy are not part of an estate. Accordingly, the deceased's Will does not have any effect over such proceeds. They are distibuted to the beneficiary listed on the policy or, as in this case, to the beneficiary's guardian.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
Proceeds from a life insurance policy are not part of an estate. Accordingly, the deceased's Will does not have any effect over such proceeds. They are distibuted to the beneficiary listed on the policy or, as in this case, to the beneficiary's guardian.
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