Will vs Estate
My mother passed away recently. She had a will and named my father as the Executor and the beneficary in the event that she pre-deceased him. She left several life insurance policies. According to the issuer of the policies, my mother changed the beneficary designation from my father to ”the estate of…(mom’s name)”. The life insurance company first informed me that my father was the beneficiary, then, they came back with the info. about the ”estate” and wanted me to provide leters of administration appointing an executor, and now, they are telling me that I need to create an estate. My mother did not have an estate, just a will. Surely, my father had an insurable interest in my mother’s life. Do I have to create an estate, and how do you create one for a deceased individual? Wouldn’t an indemnification document suffice? I am really flabergasted!