Legal Question in Wills and Trusts in Pennsylvania
My mother recently passed away, there are only my brother & I, we are assigned as co-executors. There isn't that much money, but my mother put me on the life insurance policies as the sole beneficiary. Do I need to put this money into the estate? The will reads my funeral, medical bills to be paid out of my estate. I understand life insurance policies are not a part of the estate, is this correct?
Asked on 1/31/11, 6:29 am
1 Answer from Attorneys
Correct. If the life insurance is paid to you solely, then that is your money to do with as you please. You do not have to put it into the estate.
Your mother's money and assets will go to pay her funeral bill and any other claims. If there is not enough, then they get paid in order of priority.
Answered on 2/04/11, 8:55 am
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