Dear Liza: I live in the state of Oklahoma, my mother passed away unexpectedly. There was a $9,000.00 burial policy and a $12,000.00 life insurance policy, both policies were paid for by her but in my brothers name. Does my brother get to keep the life insurance policy? Yep. He does. Your mother named him as the beneficiary for those policies, so he gets to keep the money. Beneficiary designations like this trump whatever your mother’s Will said about her other assets. If you take this to the probate court, they’ll tell you the same thing. Sorry.
Liza is an attorney who specializes in estate planning for families of all ages. She is a Certified Specialist in Estate Planning, Trust, and Probate Law by the State Bar of California Board of Legal Specialization. A graduate of Stanford Law School, she has also served as an instructor at the Santa Clara University Law School and practiced with the state of California and a prestigious Silicon Valley firm. Liza is also the author of Busy Family's Guide to Estate Planning: 10 Steps to Peace of Mind. She lives with her family in Campbell, California.