My dad passed away a few months ago. We found out that the beneficiary to his life insurance policy was his father (my grandfather) who passed away 20 years ago. I am the only child and my dad did not have a spouse, so legally I am next of kin. However, my grandmother, who was the beneficiary to my grandfathers estate, now believes she has a claim to this money. Does she have any legal rights to the money? Is there any truth in this?
Home | Insurance | Blog article: If my dad's life insurance beneficiary was his dad who passed away prior to my dad, who does the money go to?
William 7:25 am on August 28, 2010
"Next of kin" does not apply to insurance. Most insurance policies contain provisions to also name a contingent beneficiary (if the primary beneficiary predeceases the policyholder). If there is NO surviving beneficiary listed, then usually the estate becomes the beneficiary by default.
efflandt 7:25 am on August 28, 2010
Beneficiaries who die before the deceased are no longer beneficiaries, unless a beneficiary is specifically lists as "per stirpes" (which passes to descendants of that beneficiary).
If there is no living beneficiary listed as per stirpes, it would go to his estate. In the absence of a will or anything else specifying how that should be distributed, it would be distributed (after any debts and taxes are paid) by "intestate succession". Web search that term for your state.
Flower 7:25 am on August 28, 2010
Since your grandfather was the beneficiary and he passed away, I think his wife, your grandmother, is next in line but I am not sure. You can contact an estate lawyer over the phone to ask a simple question or go to the probate court and ask them.
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