Legal Question in Wills and Trusts in Ohio
Parent dies without updating will which left estate to now deceased wife. Couple had one child togther, wife had two other children. Estate goes to child the couple had together. But who will get life insurance naming deceased wife as beneficiary?
Asked on 6/07/11, 3:28 am
1 Answer from Attorneys
Elizabeth Schmitz
Elizabeth S. Schmitz Attorney at Law
Unless the life insurance policy provides otherwise, the insurance will be payable to the estate. Given the facts that you have presented that insurance proceeds will pass by the will to the child the couple had together.
If the insurance proceeds are payable to the estate they will be subject to Ohio estate taxes.
Answered on 6/07/11, 4:38 am