Grandparents both killed in car accident.....? about insurance

[kepowell]

What is the name of your state?IN
Not sure if I am putting this in the right place.
4 years ago both of my grandparents were killed in a car accident. The new highway was just openned up 3 days prior to accident. Long story short, the powers that be(whomever they were) ruled that the accident was a result of the way the highway was designed and they paid my aunt $300,000.
Now, my mother passed away in 1994. So since my grandparents died in an accident all of their life insurance was triple indemnity.
Meaning we are talking about alot of money.
At the time of the accident, everyone kept telling my brother and I to hire a lawyer and go for my mothers portion. My grandparents practically raised my brother and I. We told everyone that if it would bring them back that we would do that, but we didn't persue it. Everything went to my aunt whom we both have had trouble with since my mom needed a bone marrow transplant and my aunt was a match and she refused..........so needless to say she is very greedy and a me me person. So we figure if she can look at herself in the mirror every day and be happy with the way she has handled things, then that is ok.
Now, my question is, not that we would ever have persued it, but did we do the right thing? Now after 4 years, I am wondering if we could have went after our mothers portion.
Please don't think I am greedy because if I were I would have tried 4 years ago. Nothing will bring my grandparents back, and no amount of money would have ever made us feel any better. Just curious if we could have done something.
Thanks
Erica

 

[Dandy Don]

You have left out crucial information--did your grandparents leave a last will and testament and was it probated in probate court or did they each leave no will at all?

Do you have knowledge of any companies your grandparents may have had life insurance with?

Why did they pay your aunt the money--was she executor of your grandparents' estates was she named as a beneficiary on their policy? Or was this an out of court settlement paid by the insurance company?

You would need to ask a probate attorney to look at each of your grandparent's probate file to see how the estate was distributed to see if it was done correctly and why just the aunt was paid and whether she should have distributed that money to other people.

DANDY DON IN OKLAHOMA ([email protected])

 

[kepowell]

What I do know is that the $300,000 was awarded to my aunt in a lawsuit against the state. The design of the new highway was faulty and since they have had other fatal accidents there and have put up lights all around the intersection.
According to her, she was the only one that was allowed to get that money because she was the only surviving child. Again I did not persue this because it would not have made any difference in whether my grandparents were here or not.
When I did start getting curious I went to the court house, and 3 days after my mother died, my grandparents were down at the courthouse
taking her off their will.........and my aunt admits she told them to do it.
According to the life insurance policies, they were to go to both children, but since my mother was deceased, she (my aunt) got all of it.
As I said, it doesn't change the way I feel about the money.........if it would bring them back.....then I would have persued it.......just curious if my aunt was on the up and up.
Thanks for helping!

 

[Dandy Don]

What she told you may or may not have been true about her being eligible for the payment because she was the only surviving child. The question is who made this decision--was it the insurance company or the attorneys? It is also possible that the payment should have been made to their ESTATES so that the executor of the estate could distribute the monies to interested parties/heirs. I would have an attorney look into this to find out the truth.

Something is also wrong about your statement about the life insurance policies--were you told this by someone--who was it? If the life insurance policies named the children as beneficiaries, then that money should have been paid to the children or kept in a trust account for them to reach in adulthood (how old would the children have been at the time of death?). The excuse about children not receiving it because parent is deceased is either an outright lie or a mistake.

If the executor of your grandparents' will was not the aunt, then ask the executor to check into this.

DANDY DON IN OKLAHOMA ([email protected])

 

[Dandy Don]

It would be best if you mentioned this to the executor of your MOTHER's estate to handle, but it would be okay if you took it to the executor of your grandparents' estate.

Were one or both of you children named as beneficiaries in your mother's will?

DANDY DON IN OKLAHOMA ([email protected])