Question
I am in Alabama.
My Grandfather recently passed away, two weeks before he died while he was in the hospital he gave my Aunt power of attorney and had a will drawn up. In the will he stated that there was a thousand dollar life insurance policy that he wanted split four ways along with a checking account.
I received a letter from the insurance company that there were actually two life insurance policies, one for a thousand dollars and the other one for ten-thousand dollars. I am listed as sole benificiary, and have been on the policies for thirty years.
Are these policies considered part of his estate?
What if any are my obligations? Do I inform the probate attorney or are these outside of probate?
Answer
You lucky person you. The money passes outside of probate and is payable directly to you. Please do not inform the executor about this unless you want to create bad feelings.
It would be nice for you to volunteer to pay the funeral expenses if that has not already been taken care of and if the estate can not afford to do so.