What happens to a life insurance proceeds check if the beneficiary does not cash it prior to their death?

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What happens to a life insurance proceeds check if the beneficiary does not cash it prior to their death?

My in-laws passed away last year, a month apart. Prior to their passing, they were left $50,000 each from an insurance policy from their daughter who died several months before them. It is my understanding that one check was cashed and the other not. Does this money become a part of their estate?

Asked on January 26, 2014 under Estate Planning, Florida

Answers:

Anne Brady / Law Office of Anne Brady

Answered 10 years ago | Contributor

The money will become a part of the estate of the in-law who died last, assuming that person inherited everything from his/her spouse who died first.  If the in-law who died last had a will, the money will be distributed according to the terms of that individual's will.  If not, according to their state's laws of intestate succession.


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