Legal Question in Wills and Trusts in Texas
Does Will Override Life Insurance Policy?
My father made my brother executor and named him as survivorship on savings & checking accounts and beneficiary on life insurance policies. The will states ''I will, bequeath and devise all of my property of every kind and character whatsoever to''...and proceded to name all children.
My question is, should the cash and life policies be considered part of the 'estate' or do they all belong exclusively to my brother?
Thank you
3 Answers from Attorneys
Re: Does Will Override Life Insurance Policy?
Cash is part of the estate. Life ins. passes to the named beneficiary outside of the estate.
Re: Does Will Override Life Insurance Policy?
Life insurance and accounts with right of survivorship pass outside of the will.
Andrew
Re: Does Will Override Life Insurance Policy?
Life insurance passes by contract, outside the decedent's estate.
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