QUESTION

my father passed away a few monthsago , the only survivors are me and my brother, my father had profit sharing and life ins. we contacted the company

Asked on May 14th, 2012 on Family Law - Arizona
More details to this question:
and they said there was no benificary listed , what can we do
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2 ANSWERS

Laura Monte
The life insurance policy and profit sharing would be an asset of your father's estate.  In order for you to get access to the information surrounding his assets one of you would have to be appointed as the personal representative of his estate.  Once appointed you would be able to access all of this information on behalf of the estate and figure out who is listed as a beneficary as well as the amount of money.  Once final expenses, medical bills, and debts are paid, whatever is left over would be split either by the terms of a will or trust or equally between you and your brother.   *The answer presented is for informational purposes only and does not create and attorney-client relationship between the question presenter and Laura B. Monte, Esq. or Donaldson Stewart, P.C.* *Laura B. Monte, Esq. is licensed to practice only in the State of Arizona.  Any answers presented are based solely on Arizona state law and case law.*  
Answered on Jun 04th, 2012 at 7:50 PM

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If there is no beneficiary named on either policy, then the benefits are probably payable to your father's "estate." This means that it might be necessary to open a probate in order to get permission to distribute those assets, either to the heirs he named in his will, or to his legal heirs if he had no will. If your father was not married and you have no other siblings, then you and your brother may still be the beneficiaries of his estate, but you might have to open probate proceedings in order to collect. I recommend you speak with an attorney for additional details so you can determine your best course of action.
Answered on May 14th, 2012 at 1:17 PM

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