Q: My father passed and I believe he left everything to my sister. He had a small policy for his grandchildren and I was in
It I recieved 1067.00 My sister was left his home and his funds totaling around 200 thousand or more. My father also had separate life policies on his children they cashed theirs in years ago I never did, my question is can I cash mine in it's a 25 thousand dollar policy or does it go to my sister.
A: If I understand your question, your father named you the beneficiary on a life insurance policy, but left everything to you sister in his will. A life insurance policy is not an asset of the estate and instead is a contract between the Insurance company, the owner of the policy and the beneficiary of the policy. As long as the beneficiary provides the information requested by the insurance company the insurance proceeds should be delivered to the benficiary according to the terms of the insurance policy.
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