Q: Greetings. I am cashing out a life insurance policy. Life insurance company is requiring a small estate affidavit?
The insurance company says they need an affidavit to determine the new owner of policy. The owner of policy was the Estate of my Father, C/O myself and the insured is my son. On the affidavit who should be listed as successor(s), both my Son & I or one of us?
Thanks for your time.
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A: The small estate affidavit is a non-probate procedure to more easily transfer assets. You should mirror the affidavit with the testamentary disposition.
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