There are so many issues that come up during the estate administration of a person who has died. Often family members want to determine the beneficiary under any life insurance policy. Further, if there are children of a prior marriage this information may not be easily attainable.
Life insurance policies do not go through the probate process. The probate process does establish a public file that any one can view. However, the insurance policy is a private contract between the insured and the insurance company. There is no real audit trail or documentation regarding who may have received insuarnce proceeds. Therefore, it is important to let family members know about your insurance policy or at least the person that you named as beneficiary. You do not want to leave your family members in the dark if they need to know.
Put your affairs in order today. Contact us at www.ythlaw.com