North Carolina
My mother recently died with a small life insurance policy. When she established the policy I was 9 years old, and so she named her mother (who was set to be my legal guardian incase of my mother's death) as the beneficiary. My father was deceased prior to the establishment of the policy, and my grandmother died a few years after the policy was signed. My mother never formally changed the beneficiary, but she told me on several occasions that as the only child I would receive the policy benefits - no spouse or mother. However, now the insurance company will only pay to the estate contrary to my mother's intent and contrary to the purpose for establishing the life insurance policy. If the insurance benefits are paid to the estate, a large estate must be filed, and there will not be any money left in the estate after creditors are notified. There is no will and no other named or contingent beneficiaries. Does anyone have any advice? Can the insurance company change the policy benificiary from the estate (default) to the sole heir? Can a claim in court force the insurance company to pay the benefits to me?
My mother recently died with a small life insurance policy. When she established the policy I was 9 years old, and so she named her mother (who was set to be my legal guardian incase of my mother's death) as the beneficiary. My father was deceased prior to the establishment of the policy, and my grandmother died a few years after the policy was signed. My mother never formally changed the beneficiary, but she told me on several occasions that as the only child I would receive the policy benefits - no spouse or mother. However, now the insurance company will only pay to the estate contrary to my mother's intent and contrary to the purpose for establishing the life insurance policy. If the insurance benefits are paid to the estate, a large estate must be filed, and there will not be any money left in the estate after creditors are notified. There is no will and no other named or contingent beneficiaries. Does anyone have any advice? Can the insurance company change the policy benificiary from the estate (default) to the sole heir? Can a claim in court force the insurance company to pay the benefits to me?