Is a life insurance policy considered part of someones estate when they pass away?
Question Details:
My mother passed away and had me on all of her accounts and set up as P.O.D to me. Also her life insurance policy came to me. I have some medical bills coming as to the estate of my mother. I was concerned if the can come after the life insurance.
Are you an attorney? Sign up to answer this question.
Legal Answers Categories
Wills, Trusts, Probate Law Answers
Your mother's estate is liable for the payment of any outstanding debt incurred by her. Assets of the estate must be used to satisfy such debt. However, that having been said, life insurance proceeds pass directly to the designated beneficiary. They are not part of the probate estate. In other words, you will not have to use the proceeds to pay any of your mother's creditors.
Related Wills, Trusts, Probate Questions
- I have a large term-life policy in which my sister and brother-in-law are sole beneficiaries. They p...
- Can I name any beneficiary I choose on my life insurance policy?
- What are the alternatives to a viatical or life settlement?
- Can I buy a life insurance policy on someone else's life? What is an "insurable interest"?
- What does group life insurance cover?
Didn't find your answer? Ask.
Top Ranking Attorneys
- Hong Shen205 Answers|Points 10250Gold Contributor
- Joseph Gasparrini46 Answers|Points 2200Bronze Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga66 Answers|Points 3250Bronze Contributor
- Shawn Jackson17 Answers|Points 850Bronze Contributor
- Glenn M. Lyon, Esq.25 Answers|Points 1230Bronze Contributor
- Hong Shen205 Answers|Points 10250Gold Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga66 Answers|Points 3250Bronze Contributor
- Sharon Siegel62 Answers|Points 3090Bronze Contributor
- Michael D. Siegel56 Answers|Points 2750Bronze Contributor
- Paula McGill50 Answers|Points 2500Bronze Contributor
Are you a lawyer?Want to be featured here? Sign up for a free profile and get started today! Click Here
More Questions Like This...
 |