On Oct 20, 4:48 am, "
wrote:

Andy adds:

Oh.... I'm sorry... I forgot to answer YOUR questions...
Here it is :



And regarding probate, you didn't answer his
question which was does the life insurance policy
go through probate or not. Do you agree that the
general case is that it does not?

*** It is not a GENERAL case... Life insurance proceeds which
designate a beneficiary other than the decedent
NEVER go thru probate because they are classified as
a 'Non-Probatable Asset"..... I think l said that a few tiimes...
Often a beneficiary isn't designated, so the case isn't "general"...
Pay attention...

Or do you want
to come up with every possible pathological
exception to that,
such as that the policy is payable to the deceased
himself?

*** You still don't understand. NORMALLY, when a life
insurance policy is used in estate planning, the policy
is "payable to the deceased himself" (your term) , which means it
is deposited into the general estate of the deceased without
designating a beneficiary....... This is done in
order to have a big stash to pay off all the creditors from
all sources so that property, such as real estate, doesn't
have to be liquidated to pay the bill... If a will exists,
probate will then distribute the "remainder" ....

There. I think I have covered all your questions. Please
use google more often in the future.

...... and go over to misc.taxes.moderate and
misc.legal.moderated so that you can ask your questions
in the correct arena.... People usually come to alt.home.repair
to fix leaky faucets and change light switches....


Andy in Eureka, Texas PE