Legal Question in Wills and Trusts in New York

life insurance

is life insurance considered an asset in an estate? my grandfather died years ago and left an exceptional amount to his estate in life insurance, now that my grandmother is near passing and unfortunately our family is at war over the estate i was wondering if his life insurance would of counted as an asset


Asked on 12/10/07, 6:06 pm

1 Answer from Attorneys
Anthony Park Anthony S. Park, PLLC

Re: life insurance

Yes, in most cases life insurance is part of an estate. Exceptions include life insurance held in irrevocable trust and life insurance owned by someone other than the deceased.

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Answered on 12/10/07, 9:10 pm


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