If there are two beneficiary's on a insurance policy who is the executor of the estate?

Asked over 1 year ago - New Orleans, LA

policy states that everything is to be divided equaly among the two

Attorney answers (3)

  1. Gene Edward Adkins

    Contributor Level 8

    3

    Lawyers agree

    Answered . An executor should not be needed. The insurance policy can be processed without a probate proceeding. When there are beneficiaries listed on the policy it is known as a non-probate asset. You will need to submit a death certificate of the policy owner and fill out the claim forms that the insurance company will provide to you.

  2. Jeffrey Bruce Gold

    Pro

    Contributor Level 19

    3

    Lawyers agree

    Answered . Insurance proceeds pass outside the estate, so you don't need an executor. If there is an estate to administer, you need to apply to the court to be the executor.

    If you'd like to discuss, please feel free to call. Jeff Gold Gold, Benes, LLP 1854 Bellmore Ave Bellmore,... more
  3. Sarah Faith White

    Contributor Level 11

    3

    Lawyers agree

    Answered . I agree with Mr. Adkins and Mr. Gold. If you are dealing with a life insurance company and that's the only asset of the estate, you may not need to go through probate. You may simply apply for the proceeds from the life insurance company and see what happens.

    If a probate does need to be opened, the executor (or administrator) is whomever is appointed by the probate court. That could be you or someone else. You may wish to consult a probate attorney in your area.

    www.lawyersarah.com

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