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Estate questions

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rugerguy

Junior Member
What is the name of your state (only U.S. law)? Michigan
My grandfather passed away last week and now I am trying to find out the best way to proceed. Here is the basic info My grandmother is deceased and so is my mothers siblings. She is the only remaining child. He appointed her as the personal representative of his estate. He has little to nothing that is left to be in an estate as his house burnt down. He owns a lawn mower thats about the extent of it. The biggest concern is my mother and I are on a quit deed with my grandpa for his property and the insurance company wants to write the check to the estate rather than us because we were not on the homeowners insurance. My thoughts this should not be part of the estate as we are the property owners and have to take care of putting it all back together. Hoping to not have to wait til the estate is closing to withdraw that money. Please advise???
 


justalayman

Senior Member
the insurance company will write a check to whomever was listed as payee, beneficiary, or if none, owner of the policy. I am guessing that is your grandfather so it isn't who owns the house but who is the proper recipient of the benefits of an insurance policy.


how was title held on the property? You either have tenants in common or joint tenants (with rights of survivorship). Unless it was JTWROS, you have to run HIS share through probate anyway.
 

rugerguy

Junior Member
the insurance company will write a check to whomever was listed as payee, beneficiary, or if none, owner of the policy. I am guessing that is your grandfather so it isn't who owns the house but who is the proper recipient of the benefits of an insurance policy.


how was title held on the property? You either have tenants in common or joint tenants (with rights of survivorship). Unless it was JTWROS, you have to run HIS share through probate anyway.
The state says there is no title it was never titled. The land is deeded tenants in common it appears. So if I understand that correctly, say the total insurance proceeds come out to 55k 1/3rd of that goes into the probate the rest we can take to use on prop immediately?
 

justalayman

Senior Member
Not unless you are listed as loss payee, beneficiary, some sort of benefactor of the insurance policy. Otherwise it simply becomes part of the estate.
 

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