Legal Question in Wills and Trusts in New Jersey

Re: Is life insurance part of the will

If your father referred to his life insurance policy in his will the life insurance policy must

name his estate as the beneficiary of the life insulrance. Therefore, the life insurance premiums would be paid out aS dictated by the will.

Normally, the beneficiary of a life insurance policy is a person and in that case the life insurance company would pay the beneficiary upon the death of the insured.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

Re: Is life insurance part of the will

Normally a life insurance policy has named and designated beneficiaries, and the designation usually spells out how the proceeds are distributed. If this is the case, the language of the Will is meaningless (other than to express your father's desires, which are not binding), as the policy beneficiary designation overrides the Will. While unusual, a policy may merely state that the proceeds go to the insured's estate, or the designated beneficiary has predeceased the insured and there was no contingent beneficiary named, in either case the provisions of the Will control the disposition of the proceeds. I suggest someone contact the insurance company to ascertain how the proceeds are payable.