trust_id_09
Member
What is the name of your state (only U.S. law)? New York
Trustee of an estate, No probate courts. Just found out that the decedent has a negligible amount 1K awarded to city employee upon death. Mind you, I am in the distribution phase of Trust assets.
The Administrative company sent me an preferred beneficiary affidavit to fill out and notarize. which I did and the file a claim w/ the Insurance Company in my behalf. However, the claim rep called me and ask for a testamentary Letter, which I don't have again no probate was involved. However, I faxed a copy of letter given to me by the decent's attorney stating that I was the executor of the pour over will that is part of the trust set up.
Then a check was cut but made out to the Estate of the decedent. I know what need to do as far as small estate admin and all. But I found a copy of an Insurance record card, in which I, as the POA at the time four years back filled out and signing it as such. I had Insurance transactions powers. I faxed to them. However, The insurance co. told me It is against the law, which I refute, and later request a copy of the policy. according to them the policy clearly states there will be no payout to anyone who has power of attorney.
It that is absolutly true, I will bow out. But, my argument is , at the time I fill the insurance card, the decedent at no cognition, and it would have been deceiptfull from my part, had I let her sign. I thought I was doing the right thing. Note that I had absolutly no data whatsoever on what the insurance $$ was. All I know, is my lawyer told me not to leave anything she may have owned outside the trust either in her name or w/o a named beneficiary.
I am awaiting the policy, but I am fearfull that I'll have to probate such a negligible amount, which had rendered all the $$ we paid to establish the trust (being private and all) absolete.
Any input will be greatly appreciated.
Thanks in advance
Trustee of an estate, No probate courts. Just found out that the decedent has a negligible amount 1K awarded to city employee upon death. Mind you, I am in the distribution phase of Trust assets.
The Administrative company sent me an preferred beneficiary affidavit to fill out and notarize. which I did and the file a claim w/ the Insurance Company in my behalf. However, the claim rep called me and ask for a testamentary Letter, which I don't have again no probate was involved. However, I faxed a copy of letter given to me by the decent's attorney stating that I was the executor of the pour over will that is part of the trust set up.
Then a check was cut but made out to the Estate of the decedent. I know what need to do as far as small estate admin and all. But I found a copy of an Insurance record card, in which I, as the POA at the time four years back filled out and signing it as such. I had Insurance transactions powers. I faxed to them. However, The insurance co. told me It is against the law, which I refute, and later request a copy of the policy. according to them the policy clearly states there will be no payout to anyone who has power of attorney.
It that is absolutly true, I will bow out. But, my argument is , at the time I fill the insurance card, the decedent at no cognition, and it would have been deceiptfull from my part, had I let her sign. I thought I was doing the right thing. Note that I had absolutly no data whatsoever on what the insurance $$ was. All I know, is my lawyer told me not to leave anything she may have owned outside the trust either in her name or w/o a named beneficiary.
I am awaiting the policy, but I am fearfull that I'll have to probate such a negligible amount, which had rendered all the $$ we paid to establish the trust (being private and all) absolete.
Any input will be greatly appreciated.
Thanks in advance