Legal Question in Wills and Trusts in Massachusetts
Life Insurance Privacy Information
I was the only beneficiary of my mother's life insurance. She died in 1999 and there was no will. My brother is now petitioning to be the executor and he also petitioned to obtain my mother's real estate property for only $10.00 (which 3 of us have objected to... there are 5 surving children involved). My brother's lawyer has sent me a letter saying they have the right to know how much my mother's life insurance was for. I was told the life insurance proceeds pass outside the estate, but this is the third letter I have received wanting this information. Do I have any privacy rights here? If the insurance has nothing to do with the estate, what legal right do they have to ask for this information? I started a trust for my neices and nephews with the majority of the life insurance proceeds, I named the trust after my mother in her honor.
2 Answers from Attorneys
Re: Life Insurance Privacy Information
I suggest that you engage the services of a qualified estate attorney immediately. There are certain circumstances under Colorado law where the insurance is not private and you can be compelled to provide information concerning the insurance or even return the proceeds to the estate.
The life insurance is part of your Mother's taxable estate and is reportable as such. Whether it is reportable as part of her probate estate remains to be determined. Accordingly, to protect your rights, you should immediately engage counsel to assist you.
Re: Life Insurance Privacy Information
AS to the lawyer, ask him the legal basis requiring an answer to the question. As far as I would be concerned, short of a court order, he has the right to ask, but you have no obligation to answer.
As to the property, I would have an attorney review the petition filed in court, and the 10$ purchase offer seems something south of ludicrous.
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