If I am benieficary of an insurance policy, is it mine alone or part of my deceased father’s estate to be shared with relatives named in his Will?

UPDATED: Jul 2, 2012

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If I am benieficary of an insurance policy, is it mine alone or part of my deceased father’s estate to be shared with relatives named in his Will?

Asked on July 2, 2012 under Estate Planning, New Jersey

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Sorry to hear about your father.

If you are the only designated beneficiary of your father's insurance policy, the proceeds are entirely yours.  You are under no obligation to share the proceeds of that insurance policy with other relatives named in your father's Will, who are not named as beneficiaries of that insurance policy. 


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 AttorneyPages.com 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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