No Beneficiary Listed

What is the name of your state? OH

My mom passed aways suddenly two weeks ago and she is survived by my father. In going through her paperwork, we have come across multiple insurance policies that have been paid through october. We have not been able to find any actaul policies, but do have cleared checks all the way through October prooving they are current. We contacted the insurance companies and sent death certificates, but they informed us no beneficiary was listed on the policy. The only other possible scenario for the beneficiary would be my sister or I. We do not disspute the fact that the policies were/are intended for him. What is our next course of action? Will insurance companies pay to the spouse without much fight, or is this an issue as far as my father getting the money? What avenues should we be taking at this point? They haven't said at this point they wouldn't pay, we are just concerned if this was a normal thing and what other outcomes have been in similar situations?

Also, what is he entitled to has far as Social Security survivorship benefits go? He is 66 and currently receiving social security, is there a point where he would not qualify to receive her survivorship benefits? Or will they just adjust his monthly income upwards according to what her benefits are?

I am a little overwelmed with all these issues and am looking for some advice. Thanks in advance for helping me!!

Wil

[BelizeBreeze]

Teh policy will become an asset of the estate with the same distribution as all provided by will or statute. The SSI question you'll have to wait on someone else.

I appreciate the information, but i guess I have a follow-up question. I am a novice on these issues. When you say it is paid to the estate, does that mean in some sort of an account that my father will be able to touch, because we will be the executor of the estate? Since he is the sole property owner will the money be his? About how long will that process take? I assume that is through the probate process?

Thanks again Belize

[BelizeBreeze]

The answer depends entirely on your mother having a will or not. If not, then her estate will be handled 'intestate' or without a will and be divided between the husband and suviving children according to the relevant statute of the state where she died.

If she did have a will, then the division of property and assets will be according to the will.

[Dandy Don]

You can get your Social Security questions answered by visiting their local office, or their website, or phone in your question to them.

If your mother did not have a will, then you (or whoever is going to be administrator, perhaps a probate attorney you hire) will need to file at the county courthouse probate court to be official administrator of the estate. If there is a will, then the executor needs to file it.

When you next talk to the insurance company, make sure they know the name and address of the administrator/executor, and ask them politely how long it will be before they will be issuing the check to the administrator/executor, since it will be made payable to THE ESTATE OF YOUR MOTHER'S NAME, and the executor will be the only person legally authorized to cash the check. This money passes outside of probate.

[BelizeBreeze]

The answer to your question regarding the insurance would depend upon the exact language of the life insurance policy. Generally, life insurance proceeds do not become a part of the probate estate because they pass as a matter of contract to individuals. If the life insurance policy has named beneficiaries. The proceeds pass to the named beneficiaries without going through probate.

If the life insurance policy has a facility of payments clause, the proceeds are paid out according to those provisions. However, if they is no beneficiary and no mechanism for determining where the proceed are to go, they will be paid to the estate and therefore be an estate assets.

If the insurance company is willing to pay the proceeds to individuals according to a procedure outlined in the life insurance policy, such proceeds should not be considered a part of the probate estate. If there is no provision for the payment of the proceeds, they must be paid to the estate and considered an estate asset.

It is at this point that they would fall within the exact scope of the Probate proceedings either with a will OR intestate.