Life Insurance no bene's

[uryy4me]

What is the name of your state? TX

My father died Summer of 2005. I was going through his stuff a couple of months ago summer 2006 and found out he had life insurance automatically given to him from work. It's not much just...$35,000. He didn't put any beneficiaries. There is no spouse.

On the affidavit it asks for children and step children. He had three. I am the oldest. The second oldest died in 91 and the 3rd is homeless and can't be found. If I put my brother on there would he have to be found before anything could be settled? He may be deceased for all I know? Any other suggestions?

 

[justalayman]

Ask the insurance company but I believe it would revert to the estate and be dispursed according to the laws that apply to probate of estates..

 

[Betty]

What is the name of your state? TX

My father died Summer of 2005. I was going through his stuff a couple of months ago summer 2006 and found out he had life insurance automatically given to him from work. It's not much just...$35,000. He didn't put any beneficiaries. There is no spouse.

On the affidavit it asks for children and step children. He had three. I am the oldest. The second oldest died in 91 and the 3rd is homeless and can't be found. If I put my brother on there would he have to be found before anything could be settled? He may be deceased for all I know? Any other suggestions?

I am assuming you are talking about an affidavit the ins. co. is asking you to complete. Is spouse deceased or living but divorced from your father? (Is an ex-spouse living?) You need to put all children on affidavit, yourself, the one deceased (tell them deceased), & the one you indicate can't be found (put his name with address unknown). The ins. co. might even request a death certficiate on the deceased child. Complete the affidavit & return it to the ins. co. & wait to hear from them - of course, you can always call & ask for status of the "claim." It is possible the ins. co. may pay the proceeds of the pol. to your father's estate for distribution according to state law as indicated by justalayman but since it is a pol. from work the pol. provisions could indicate proceeds to spouse if living - if not, to children equally.

 

[Dandy Don]

Did he leave a will? Are there any other assets in his estate besides life insurance?

The insurance company will probably issue the check to each beneficiary.

If you know what city the homeless sibling is living in, you have an obligation to check the homeless shelters and Salvation Army to see if he could be found there, and even consider hiring a private detective for a few hundred dollars to try to track him down and even consider placing a public notice ad in the local newspaper that he may see and respond to.

DANDY DON IN OKLAHOMA ([email protected])