If my uncle passed and we found an $8,000 life insurance policy of which my late dad was beneficiary, shouldn’t it now go to my mother?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If my uncle passed and we found an $8,000 life insurance policy of which my late dad was beneficiary, shouldn’t it now go to my mother?

Asked on January 28, 2016 under Estate Planning, New Jersey

Answers:

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

Answered 8 years ago | Contributor

As a general rule, if the beneficiary designated under a life insurance policy dies before the insured dies, then the contingent beneficiary (if there is one listed) would recieve the proceeds of the policy. If there is none named at the time of the insured’s death, then the proceeds would be paid pursuant to the terms in the policy, which is tyically to the insured’s estate.
When the beneficiary named in a life insurance policy dies after the insured but before payment of the insurance proceeds, the proceeds become part of the beneficiary’s estate, since they are regarded as having vested in the beneficiary upon the death of the isured
That having been said, some of this can vary from state-to-state so you should consult directly with a local 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 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.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption