Are life insurance policies to be included in probate assets?
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Are life insurance policies to be included in probate assets?
Asked on October 19, 2012 under Estate Planning, Iowa
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Unless the beneficiary designated under the life insurance policy is one's estate then such is to be included in the probate estate. However, if a person is deemed the beneficiary under the life insurance policy who is not the decedent the proceeds go to the designated person outside of probate and is not to be included in it.
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