Legal Question in Wills and Trusts in New York

Re: conflict of interest?

The determination as to how a Beneficiary designation versus a Will provision is resolved depends on many factors. In order for me to advise you, I would need to review the Will, the Insurance Policy beneficiary designation form, as well as any other documentation there is regarding the Insurance policy.

Also, before a bequest can be distributed to a beneficary under a Will, the debts of the Estate must be paid.

I reccomend that you retain an experienced attorney to represent you as the Executor. I am an Estates and Probate attorney in Buffalo NY. Please feel free to contact me @ (716) 856-4022 to discuss this further. Thank you.

Re: conflict of interest?

Traditionally, if an asset (like an insurance policy) has a named beneficiary, the beneficiary designation supercedes anything in the Will. A good example is a bank account owned jointly with right of survivorship. A Will provision leaving the account to someone other than the joint owner is invalid, as the account designation controls. At best, in your question, the language of the Will, without a new beneficiary designation to the policy itself, cannot override the policy beneficiary designation, but merely provides a thought or moral obligation, but not a legal obligation. If you are in doubt, you can apply to the Surrogate's Court for a ruling, in your capacity as executrix. If your sister is the only named beneficiary, she should get all of the policy proceeds.