How is reimbursement for medical and funeral expenses to be apportioned?

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How is reimbursement for medical and funeral expenses to be apportioned?

I am 1 of 3 brothers. Younger brother inherited everything as stated in the Trust. We are to split my dad’s life insurance however. The brother who inherited everything and is the executor of the will states that he will have to subtract all funeral expenses, hospice care and other medical bills from the money received from the life insurance policy (he got the house, cars, stock, savings, checking which is well over $100,000). Dad also had Medicare and a supplemental health insurance policy. Is he correct?

Asked on October 7, 2013 under Estate Planning, Wyoming

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

The brother in charge is wrong. If you and others are named on the life insurance policy and not your deceased father, the life insurance policy under the law IS NOT and asset of the estate. As such, the expenses you incurred are to be reimbursed from the estate leaving less for the younger brother to receive in the end.


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