Do the life insurance proceeds need to be probated with a Will?

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Do the life insurance proceeds need to be probated with a Will?

The deceased has a legal Will to distribute their property. However, one of the recipients of the estate is also the beneficiary of the deceased’s life insurance policy. Are the insurance proceeds considered property of the deceased?

Asked on October 21, 2015 under Estate Planning, North Carolina

Answers:

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

Answered 6 years ago | Contributor

No, these proceeds are not part of the deceased's estate, thereby they do not need to be included in probate. The fact is that as long as a life insurance policy lists a designated beneficiary, any proceeds from such a policy directly pass to the named beneficiary. Estate beneficiaries/heirs are not entitled to them.


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