Legal Question in Wills and Trusts in Pennsylvania
Life insurance beneficiary
The will states that all left over estate assets should be divided among the four-surviveng siblings. The appointed power of attorney is going to keep the life insurance for her because she is the named beneficiary. Can she legally do this or is it considered part of the estate, which is to be divided?
1 Answer from Attorneys
Re: Life insurance beneficiary
Life insurance is a contract between the owner and the insurance company. If a beneficiary is named, the proceeds belong to the beneficiary and are not a part of the estate of the deceased.
Also bear in mind that no one holding a power of attorney may act after the person who gave the power has died. After death, the only person who can act with respect to the deceased's estate is the personal representative, after being appointed by the Register of Wills for the County where the deceased resided at the time of death.
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