Palm Beach Probate Litigation: What Happens to My Life Insurance if I Die Without a Will?

If I die without a will, who will collect from my life insurance? Does my life insurance money go through the Florida probate process? When I designate someone as beneficiary of my life insurance, will they be able to easily inherit?

Who Inherits Life Insurance in Florida Probate Litigation?

• When determining who will inherit under a life insurance policy, you have to look at the plan and the beneficiary designation.
• Generally speaking, the named beneficiary inherits the plan.
• Life insurance is an asset that is not subject to intestate succession?
• In fact, many assets will not be subject to intestate succession.
• This is because only property that would have passed through your Florida will, property you owned alone, will pass intestate.

What assets will not be subject to intestate succession?

1. Property transferred through a living trust.
2. Life insurance proceeds (since you name a beneficiary)
3. Funds in an IRA, 401(k), or other retirement account
4. Securities held in a transfer upon death account
5. Payable on death accounts
6. Property you own with someone else in joint tenancy or tenancy by the entirety.