What happens to a life insurance proceeds check if the beneficiary does not cash it prior to their death?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What happens to a life insurance proceeds check if the beneficiary does not cash it prior to their death?
My in-laws passed away last year, a month apart. Prior to their passing, they were left $50,000 each from an insurance policy from their daughter who died several months before them. It is my understanding that one check was cashed and the other not. Does this money become a part of their estate?
Asked on January 26, 2014 under Estate Planning, Florida
Answers:
Anne Brady / Law Office of Anne Brady
Answered 10 years ago | Contributor
The money will become a part of the estate of the in-law who died last, assuming that person inherited everything from his/her spouse who died first. If the in-law who died last had a will, the money will be distributed according to the terms of that individual's will. If not, according to their state's laws of intestate succession.
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.