Legal Question in Wills and Trusts in Ohio

Life insurance and probate

My mother named my sister and I the benificiaries in her will and on her 401k policy. She had been very sick and in and out of the hospital many times and off work during those times. There was another life insurance policy worth 24,000 through work that she had that she did not sign or name anyone benificiary on, I believe due to the fact that she was sick and unaware that this business had been left undone. It is obvious that we are her only benificiaries. But, we were told that since she had debt that it had to go into probate and go to paying off her debt, is this true? Is it worth it to contest the policy going into probate instead of to us?


Asked on 3/25/09, 12:40 pm

1 Answer from Attorneys
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

Re: Life insurance and probate

Unfortunately, if she did not name a beneficiary then it will need to go through her estate and through probate. If this is the only probate asset that you may be able to use a release from adminstration but you will have to notify her creditors and pay them according to Ohio's priority schedule. Any cost of probate, attorney fees, administration fees and funeral and burial costs will come out before other general creditors.

You should consult with an attorney for information particular to your situation.

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Answered on 3/25/09, 12:58 pm


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