Q: How to transfer ownership of a life insurance policy with no probated will, death > 4 years ago, estate >50K in Texas?
Owner of policy died in Texas greater than 4 years ago and company says they will only transfer ownership with Probated Will, Letters Testamentary, Letters of Administration or Small Estate Affidavit. I don't see how I can obtain any of these at greater than 4 years and estate (bank account) greater than $50K at time of death. I am the named insured. The company did change the owner from my Father to my Father's estate. Any other options? The insurance company says I can file a Small Estate Affidavit listing the insurance policy only, but the form I have from Harris County Clerk has a statement that entire estate, not including homestead and exempt property, does not exceed $50,000.00. All other estate assets have been transferred to spouse.
A: When you say you are the named insured, do you mean you were listed as the beneficiary or your father had the policy in case of your death?
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