Legal Question in Wills and Trusts in Illinois
probate
my father paseed in july. he had a life ins. policy with my mother named as beneficiary. my mother predeceased my father. i am named as executor in his trust if my mother cannot act. the ins. co. is saying that the estate has to go thru probate in order for them to process the claim. my question is why would the estate need to go thru probate if i am named in the trust as executor?
1 Answer from Attorneys
Re: probate
There a couple of conflicting titles that you are using.
An "executor" is named in a will. If you have a trust, then you would be a "trustee."
If the life insurance is payable to an estate, then could be probate required.
If it is payable to a trust, probate should not be required.
If your mother predeceased your father, then the life insurance is probably being paid to your father's estate.
The insurance company is trying to protect itself by having the probate court oversee the transaction. You may indeed have to open an estate to obtain the paperwork the insurance company is demanding.
Let me know if I can assist.
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