QUESTION
What can I do about my Dad's insurance?
Asked on Jul 13th, 2013 on Criminal Law - Louisiana
More details to this question:
My dad lives with me for about a year now and we both sit down and got life insurance and I’m oh his life insurance as a beneficiary on my father BUT he have NO will but he have 3 more children also which is my [1 brother and 2 sister's ]which 1 sister is older but don’t have my dad’s last name so I heard they will come to next to kin and the reason why he lives’ with me because he had a stroke few years ago and it infected his brain and now I take care of him and he do get SSI DISABILITY. I NEED HELP! I don't know what to do on out.
11 ANSWERS
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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If you are the named beneficiary on your father's life insurance policy, then the policy will pay you when he passes away. You should know, though, that the state may have a claim for repayment of benefits that he received. There isn't anything you can do about that claim, just a heads up.
Answered on Jul 23rd, 2013 at 1:28 AM
Life insurance is not a probated asset unless there are no beneficiaries. If you are the beneficiary then you will receive the proceeds upon your father's death, provided you survive your father. As for any other assets in your father's estate, if there are any, then if you die without a will, the assets are distributed to next of kin in accordance with the statutory provisions.
Answered on Jul 23rd, 2013 at 1:28 AM
Sanford M. Martin
Realize that if a life insurance policy designates you as beneficiary, whether he has a will makes no difference. Even if he has a will and leaves everything to others, you still receive the life insurance benefits. Of course, you should be aware of such legal issues and understand what is important regarding a will. Whether he even needs a will depend on his other assets, debts, and to whom he would like to give property. Also, if his mental soundness is suspect, he may not be competent to execute a will.
Answered on Jul 23rd, 2013 at 1:28 AM
Thomas Edward Gates
By your father listing you as the sole beneficiary on his life insurance, only you will benefit from it, you do not have to share it with your brother and sisters. Because there is no will and, that he does not own real property (home), you will likely be able to "probate" his estate by affidavit to distribute his personal property to all of the children.
Answered on Jul 23rd, 2013 at 1:28 AM
2 Awards
If you are listed as the beneficiary on the policy it will go to you. If you are not named as beneficiary it will be shared with your brothers and sisters.
Answered on Jul 23rd, 2013 at 1:28 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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I am not sure what your question is. If you are the beneficiary on the life insurance, it will go to you, Will or not. Does your father have other assets in his name alone? If he does not, then a Will would not make any difference. If all of his assets are joint or have a designated beneficiary, then they will pass to the joint owner or beneficiary. Probate will not be necessary and neither is a Will. Your father should have a durable power of attorney for medical and financial affairs. If he does, then he may be all set. He should see an estate planning attorney to make sure. Many of us do not charge for an initial consulation.
Answered on Jul 23rd, 2013 at 1:28 AM
The assets of a person who dies without a will are distributed according to the statutes of the state in which the deceased lived. Usually, the beneficiary order is: surviving spouse and living children by birth or adoption, then living grandchildren, great-grand children, etc. Usually the proceeds of a life insurance policy are not considered part of the estate but go directly to the named beneficiary. If you provide more than room and board for your father, you may be entitled to payment for certain kinds of skilled and semi-skilled care you give.
Answered on Jul 23rd, 2013 at 1:28 AM
I am not sure I understand your question.? Life insurance goes upon death immediately to the person(s) named as beneficiary, no matter how many children the deceased has.
Answered on Jul 23rd, 2013 at 1:28 AM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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Contact the insurance company. Get a clam form, fill it out and send it back. They will tell you how much you will get.
Answered on Jul 23rd, 2013 at 1:27 AM
Michael J. Breczinski
Well the life insurance is a contract and will go to you since it goes outside inheritance rights.
Answered on Jul 23rd, 2013 at 1:27 AM
Probate Attorney serving New Orleans, LA
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James G. Maguire
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If your father is mentally competent, he should do a will before his death, to avoid a fight among people claiming to be his children. If you are the beneficiary of his life insurance, that money will go to you as the beneficiary. That is not part of his estate.
Answered on Jul 16th, 2013 at 8:41 AM