ANSWERS: 1
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A life insurance policy is considered a part of a deceased person's estate if the estate was named as the beneficiary. If an individual is the beneficiary, the benefits are payable to that person. To avoid probate, the policy must be an "irrevocable trust," meaning the policy cannot be changed.
Source:
The Federal Citizens Information Center: Consumer Estate Planning Information
New York Life Insurance Company: Life Insurance and Estate Preservation
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