Beneficiary Designations Rule
August 25, 2012
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.
