Legal Question in Wills and Trusts in New York
life insurance policy named to son as beneficiary
This policy named the beneficiary as my husband and his sister to share the proceeds. In the will however, his mother stated that the funeral was to be paid for with the policy and any remaining money was to be divided between his sister and him. Does the will take precedence over the named beneficiaries, or can they keep the proceeds of the policy for themselves. His mother's funeral was prepaid with other monies from her account. Thankyou .
1 Answer from Attorneys
Re: life insurance policy named to son as beneficiary
A life insurance policy transfers outside of probate. The stated beneficiaries are those that are listed with the policy, and not with a will.
The will does not take precedent. The policy stands on its own.
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