Legal Question in Wills and Trusts in Michigan
My step-fathers life insurance specified that my mother was his beneficiary and named no one else by name but does have living children and stepchildren and his will states that the estate will be divided equally between biological children and step-children so is his life insurance funds then a part of the estate and to be divided equally? Or is biological reltives only entitled to insurance (General Motors) funds? I live in the state of Michigan. Am wondering because my step-fathers will specfied for the estate to be split equally between his children and his step-children but his children are saying the life insurance is not considered part of the estate even though the only person listed as beneficiary is my mother and she has passed as well.
2 Answers from Attorneys
It does not matter what the will says. The insurance is a contract and therefore, bypasses probate. The beneficiary on the insurance policy determines where the money goes.
It does not matter what the will says. The insurance is a contract and therefore, bypasses probate. However, if the primary beneficiary predeceased your step-father then if there is a secondary beneficiary the proceeds are paid to that beneficiary. If not the proceeds are paid to the estate. brmmlaw.com
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Is a persons life insurance considered part of their estate? Asked 1/14/13, 11:20 am in United States Michigan Probate, Trusts, Wills & Estates
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