Legal Question in Wills and Trusts in Florida
Sum Admin with Retirement/ Pension
I am a labor attorney who is doing a probate for a family friend. At first it seemed a simple summary administration, which is what I've filed. The only reason the will needed to go through probate was so that the wife could collect what I thought was a life ins policy. I just learned it is a retirement policy.
The estate has nothing but the marital home (the wife's name is on the property). In addition, the deceased has a retirement plan in England that is payable at age 65. The decedent died at age 58. The wife is the sole heir. The retirement payout upon death is 37,000 British pounds, payable to the wife's account in England.
Decedent was an English citizen, but domiciled in the US. The will was written in the US, 6 weeks prior to death.
I have filed a petition for summary judgment and sent notice to creditors--all of which are hospital bills. I did not list the retirement as an asset because I wrongly thought it was a life insurance policy.
The court will issue the order next week. I need to know whether: 1) the retirement policy should be disclosed to creditors; and 2) creditors can take from the policy.
The hospital bills accrued prior to death far outweigh the retirement policy.
Please advise.
1 Answer from Attorneys
Re: Sum Admin with Retirement/ Pension
Do you have the policy?
It sounds like it p[erates like a life insurance policy and since it is payable directly to the wife, as opposed to the estate of the decedent. As such it is not part of the estate.
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