If I’m the sole beneficiary of my father’s life insurance policy, must I give any of it to my siblings?life insurance
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’m the sole beneficiary of my father’s life insurance policy, must I give any of it to my siblings?life insurance
The policy is only worth $5000. My brothers and sisters paid for a funeral now they want the $5000 and are threating to sue me for it. What are my options?
Asked on July 3, 2017 under Estate Planning, Wisconsin
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Life insurance proceeds pass outside of an estate. In other words, they are not an asset of the estate. Accordingy, such proceeds are the sole property of the named beneficiary of the policy. Bottom line, your siblings have no right to them. Further, you are under no legal obligation to share in the expenses of your father's funeral, although from a moral perspective you may want to do so.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.