Q: Life Insurance Policy beneficiary (PA is where insured passed away; I live in TX).
I recently found that my grandmother had a life insurance policy. She passed away in the 90's and the insurance company contacted me to verify the account and wants to pay out the policy.
I indicated that I would be sole inheritor since my grandmother specifically named my aunt as her sole beneficiary in all matters and when my aunt passed, that I was her named sole beneficiary. The insurance company indicated that they did not "interpret" wills, and that I would need to send them a listing of all the grandchildren (next in line alive) for all to receive a share.
I have no idea of the amount, but do the wills have any validity in this matter? or should I just send the names of all the grandchildren. None of them were involved previously with my grandmother or my aunt nor named in either wills.
Just not sure how I should respond to the insurance company?
Any guidance would be appreciated.
bp
A: You need to establish who would have been the rightful beneficiary/beneficiaries. Insurance policies don't proceed as you would think. It would be nice if the policy paperwork was available for review. The funds may have become part of the estate and if your aunt was the sole beneficiary of that estate then it might be possible that the funds passed to your aunt's estate then to you through your aunt. I suggest meeting with a probate attorney and going over everything in detail in order to get true legal advice. Many have free consultations. If you have the policy that would be helpful for you.
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