QUESTION
Can I get information about insurance, bonds value that has been paid out?
Asked on Oct 10th, 2011 on Estate Planning - Georgia
More details to this question:
I am interested in egal rights as executrix of a will. Can I get information about insurance, bonds value that has been paid out? Also does the will supersede any insurance beneficiary that was on the insurance policy. If bonds were in a joint name deceased and someone else is that something that should be divided as stated in the will?
5 ANSWERS
3 Awards
Unless you are the named beneficiary, probably not without a specific court Order. Those assets all pass outside of probate and are not subject to a Will. The Will only applies to assets without beneficiaries named on them, non-joint tenant accounts, and accounts without a Pay on Death designation. You may gain the data if you are named by the Court as the Estate Personal representitve and you obtain an order that you need the data for a tax return and that you be provided with the same. However, that does not change the fact that the beneficiary designations, trump the Will.
Answered on Oct 14th, 2011 at 1:24 PM
1 Award
Beneificiary designations supersede anything stated in the will or a trust unless the estate of the deceased or the trust was the named beneficiary.
Answered on Oct 13th, 2011 at 9:44 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Property that passes according to beneficiary designations, such as insurance benefits, is not affected by a will. Neither is property that is held jointly with someone else, with right of survivorship. The personal representative can sometimes get information about property held jointly if such information is necessary in order to properly prepare the decedent's final income tax returns, or estate tax returns.
Answered on Oct 13th, 2011 at 9:41 PM
Tax Attorney serving Portland, OR
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Bullivant Houser Bailey PC
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Generally, ifyou are appointed by the court as personal representative, you can get information about who the named beneficiaries were on decedent's assets. Joint ownership or valid beneficiary/pay on death designations trump anything the will says. Accordingly, the beneficiary of a life insurance policy gets the insurance proceeds and the joint owner gets the bonds even if the will says something entirely different. If there were substantial evidence of fraud or undue influence by the beneficiary, it might be possible to set the beneficiary designation or transfer into joint ownership. Doing so would likely be an expensive fight even with good facts.
Answered on Oct 13th, 2011 at 9:40 PM
Glen Edward Ashman
Your question makes no sense as posted. But I think you are trying to find out if joint bank accounts and insurance are part of an estate under a will. The answer as to both is "no."
Answered on Oct 13th, 2011 at 9:39 PM