Life Insurance Plans

Other than real estate, bank accounts and life insurance plans usually represent the largest part of any estate

In most instances, the testator has designated a named beneficiary to receive the death benefits upon death. There is little an executor or beneficiary under the Will can do to pull the money back into probate for ultimate distribution to the named beneficiaries under the Will. Hence, money paid out to a designated survivor under a life insurance plan will most often flow over to the designated survivor under the life insurance plan without going through probate.

Obligation to a Spouse Under the Will