Legal Question in Insurance Law in Illinois
Father's Life Insurance
When going through papers left by my deceased mother, I found an insurance check which had been overlooked. It was made out to the estate of my mother. It had been issued 3 years prior, so I contacted the insurance co. and asked them to reissue in my mom's name / estate or my name so that I could deposit it. They reissued with a current date, but still to estate of my late mom. I do not have an estate account, but she and I did have a bank acct. together prior to her passing which I closed. I would appreciate advice as to how I could deposit this check. Thank you so much.
1 Answer from Attorneys
Re: Father's Life Insurance
Hello. If no estate was ever opened in the name of your mother, it may be necessary to do so now.
I am guessing that is why the insurance company made out the check in the name of your mother's estate. This is a complicated process and you need representation. Opening an estate allows creditors to file claims against the estate for money owed them for six months after the estate is first opened. If they fail to file a claim, the particular creditor is forever barred from asserting its claim against your mother's estate. That is the real purpose for opening up an estate on behalf of a deceased person. Will be happy to discuss this further and in more detail.
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