Legal Question in Wills and Trusts in Oklahoma
I have life insurance with my daughter as beneficary. When I die does it go into the estate? Does she have to use it to pay off my debts?
Asked on 3/15/11, 11:54 am
1 Answer from Attorneys
Kurt Kennedy
Kurt M. Kennedy,Attorney at Law
This is a great question. Generally speaking, non-probate assets, such as life insurance proceeds paid to a named beneficiary, are not subject to the creditors of the probate estate. Like everything else though, there are exceptions to this rule. To know for sure, you would need to discuss your particular situation with your attorney.
Answered on 3/16/11, 7:28 am