Does the will matter?

[amjmrod]

What is the name of your state? Michigan
My Grandma left a will naming my cousins and I the benificiarys of her estate. She had 4 life insurance policies one for each of us but the trustee who is also her guardian is named benificiary on the policies. What can we do?

 

[BelizeBreeze]

What is the name of your state? Michigan
My Grandma left a will naming my cousins and I the benificiarys of her estate. She had 4 life insurance policies one for each of us but the trustee who is also her guardian is named benificiary on the policies. What can we do?

nothing at all. The policies pass outside of probate.

 

[Dandy Don]

Is the guardian also the executor of the will?

If guardian is NOT executor of the will, ask the executor to contact the insurance company to find out if the beneficiary designation was done at the time the policy was purchased or if it was done later by a beneficiary designation change form. If it was done by beneficiary designation change form, then consider filing an interpleader action with the insurance company to contest the payout IF the guardian used a power of attorney to submit the beneficiary designation change.

Was grandmother afflicted by any disease or medication that would have affected her mental competency?

DANDY DON IN OKLAHOMA ([email protected])

 

[amjmrod]

Yes the guardian is also the executor of the will. Although he never filed probate and refuses to give us a copy of the updated will. He is family. My Grandma had TB and was very sick and gave him POA.

 

[amjmrod]

Dandy Don your answer was very helpful. Thank you I will ask my lawyer about that. There is no way my Grandma would leave all of it to him. There is 4 policies 1 for each of us Grandchildren.

 

[colourfastt]

Yes the guardian is also the executor of the will. Although he never filed probate and refuses to give us a copy of the updated will. He is family. My Grandma had TB and was very sick and gave him POA.

If the will was never filed for probate, then there is NO executor. All a will does is NOMINATE a person to be the executor, the probate court will either agree with this nomination and appoint (name) that person as executor, or decide someone else is a better candidate and apoint/name this person as administrator of the estate. At this point retain your own attorney and file for an intestate probate proceeding yourself and petition to be made administrator. That will more than likely force the other party to produce the will.

 

[Dandy Don]

You also need to be discussing with your attorney or a family law attorney whether your state has laws against abuse of POA, which is possibly what happened here, or elderly financial abuse.

How much were the insurance policies worth and how much were the beneficiaries left in the will?

Your attorney will need to contact the insurance company to find out whether the guardian used power of attorney to submit a beneficiary change designation form to change the designated beneficiary to HIS name, which may be illegal. If this happened your attorney may need to sue guardian for breach of fiduciary duty or theft to get these monies returned to the estate.

DANDY DON IN OKLAHOMA ([email protected])

 

[nextwife]

Were the policies still in force?

I know that as my mom aged, we had her cancel all the life policies she was paying on so she'd have more disposable income during her remaining years..

 

[amjmrod]

Dandy don You have been such a huge help to me. Thank you very much. I am waiting for answers from my lawyer. I am asking him all these questions. I tried talking to the insurance co. and they refused to tell me anything b/c I am not the benificiary. Did I mention that he works for the ins. co? Yes the policies are update and will be paid out.

 

[amjmrod]

4 policies and I'm not sure how much they are for they wouldn't tell me.