QUESTION
Do we have to go to probate court if he only had a life insurance policy less than 50,000 and no other assets?
Asked on Oct 09th, 2012 on Estate Planning - Michigan
7 ANSWERS
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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If the estate is the beneficiary, then you have to go to probate.
Answered on Oct 11th, 2012 at 6:15 PM
Leonard A. Kaanta
Life insurance benefits go directly to the beneficiary.
Answered on Oct 11th, 2012 at 2:16 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It will depend on the named beneficiary of the policy as to whether that will require probate. I would suggest you speak with an attorney, with details, for a firm opinion.
Answered on Oct 11th, 2012 at 2:14 PM
Probate and Estate Planning Attorney serving Harrison, MI
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David T. McAndrew, Attorney at Law
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Only if the life insurance policy left the designated beneficiary, as the Estate of the Decedent. If the decedent named beneficiaries of the estate, then these assets will pass outside of probate. However, if they did not, or the named beneficiary passed away prior to the decedent, then off to court you go.
Answered on Oct 11th, 2012 at 2:13 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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no unless the named beneficiary or beneficiaries in the life insurance have passed..simply distribute it to the named beneficiaries (incidentally it does not have to be used to pay creditors of the estate either)
Answered on Oct 11th, 2012 at 2:12 PM
Probate should not be necessary. The insurance proceeds should just be paid by the company to the beneficiaries designed in the policy. Contact the insurance company for its instructions and forms.
Answered on Oct 11th, 2012 at 2:10 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Normally, life insurance passes by beneficiary designation. If it did in your case and it not pass to "the estate," then yes, the probate court will be required. Probate is required for any estate valued at more than $20,000, in Michigan.
Answered on Oct 11th, 2012 at 2:09 PM