Q: Question regarding insurance beneficiaries when they are predeceased.
Woman A has passed. Her mother, woman B, was the life insurance beneficiary and is predeceased. The children of Woman A are trying to access her life insurance to pay for funeral services. The insurance company says "Small Estate Affidavit" and the only form we can find says "At least 40 days have elapsed since the death of the decedent" does that mean that, in California, they cannot collect the insurance before 40 days have passed? Trying to get some clarity.
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A:
It appears that the "Small Estate Affidavit" form you have found may be specific to California, which would mean that the 40-day waiting period also applies in California. The purpose of the waiting period is to allow time for any potential creditors or other claimants to come forward before the estate is distributed to the beneficiaries.
However, it's important to note that the specific rules and requirements for collecting life insurance benefits can vary depending on the insurance policy, the state laws governing the policy, and other factors. It may be helpful for the children of Woman A to consult with an attorney or financial advisor who specializes in estate planning and insurance law to help them navigate this process and ensure that they are following all necessary procedures to access the life insurance benefits.
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