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Definition of a Trust
What Does a Will Do?
Advantages of a Living Trust
Difference Between Will & Living Trust
Purpose of a Living Will
How to Set Up a Living Trust
How to Set Up a Living Will
What Is a Bypass Trust?
The Pros & Cons of a Bypass Trust
Cost of Setting Up a Living Trust
How are Trusts Taxed?
What Is a Revocable Living Trust?
The Purpose of an Irrevocable Living Trust
What Is a Durable Power of Attorney?
What Is a Probate?
Do You Always Have to Probate a Will?
When Do You Have to Probate a Will?
If You Die Without a Will is Probate Necessary?
What Is Made Public in a Probate?
The Probate Process Explained
What Is Estate Planning?
When Should I Begin Planning My Estate?
What Documents are Needed for Estate Planning?
What Does it Take to Be an Estate Planner?
What Is a Constructive Trust?
What Are Capital Gains Taxes?
What Are Capital Gains in a Bypass Trust?
Tenants in Common
Required Minimum Distribution
Federal Inheritance Taxes
What to Do When Someone Dies
A Checklist for When Death Occurs
Have You Been Named in the Will?
Have You Been Named a Beneficiary in a Trust?
Are Wills Open to the Public?
How Do I Contest a Will?
The Probate Inventory
When Does the Trust Stay Private?
What Is an Heir?
What Are the Rights of Heirs?
What Is an Heir Apparent?
Do Some Heirs Have More Rights Than Others?
What Is a Missing Heir?
Heirs' Rights in Absence of a Will
Definition of an Estate Executor
What is a Domiciliary Executor?
Guidelines for Choosing an Executor
What Is Executor Compensation?
Can a Trustee or Executor be Replaced?
How to Draw Up Executor of Estate Paper Work
What Is the Role of an Executor?
Guide for Estate Executors
Are There Executor Fees?
What Is an Executor's Deed?
Must an Executor Notify a Beneficiary?
Do Creditors Get Paid When Someone Dies?
Does the Will Say How Life Insurance is Paid?
Does a Will Trump Life Insurance?
Is an IRA or a 401k Paid According to the Will?
If You Are Beneficiary of an IRA or 401k
Who Gets Life Insurance Payable to an Estate or Trust?
What Happens if an IRA or 401k is Payable to the Estate Trust?
What Does it Mean if a Bank Account Says POD?
What Does it Mean if a Bank Account Says ROS?
Does it Avoid Probate to Have Accounts in Joint Tenancy With Right of Survivorship?
How Many Months Do You Have to File an Estate Tax Return?
When Do You Have to File an Estate Tax Return?
Do You Have to File an Income Tax Return After Someone Dies?
What Part of Your Estate is Taxable?
What Is a Family Estate Trust?
What Are Gift Taxes?
Asset Protection vs. Estate Planning
Elder Law vs. Estate Planning
Retirement Planning vs. Estate Planning
What Is Trust Fraud?
Estate Planning Checklist
Whom to Notify When Someone Dies
Family Estate Trust or Revocable Living Trust?
Tips for Wealth Management
General Types of Wills
How to Become a Probate Attorney
You need life insurance in order to protect the people in life that are left behind from having to deal wi… More
The amount of life insurance needed by a person depends on how long they are looking to replace a given in… More
The best way to buy a single-premium life insurance policy is to contact a qualified life insurance agent.… More
Life insurance policies list beneficiaries, and those beneficiaries are not changed through wills. Learn a… More
Life insurance for a parent can be purchased from a life insurance company. Determine whether life insuran… More
Typically, wills are estate planning documents that do not control where life insurance payouts go. Learn … More
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Life insurance costs depend on the type of policy and benefits afforded in each individual policy. Spend a… More
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Summary: Typically, wills are estate planning documents that do not control where life insurance payouts go. Learn about conflicts between will and life insurance policies from an estate planning and probate lawyer in this free video on estate law.
Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978. His firm, The Wiewel Law Firm, is...read more
"Somebody's will typically does not control where their life insurance goes. Life insurance passes by a beneficiary designation. On your group life at work, on a policy you may buy from a life insurance agent or your financial adviser, there's a place to put who you want to get this money after you pass away. That's your beneficiary. You may have a will--heck, you may have a living trust that says who gets your property when you die, how they get it, what percentage they get exactly the way that they're supposed to get it, and when, and if you've got an individual on your life insurance policy, they get it, they get all the life insurance policy, and what you say in your will is irrelevant. So wills do not control where the life insurance money goes unless you name your estate as a beneficiary of your life insurance policy. And some people do that, but that's dangerous as well, because naming your estate as the beneficiary in your life insurance policy may make that policy subject to your creditors--usually life insurance goes to your family without any claims of your debts. Mastercard, Visa, typically can't come get your life insurance. But if it's payable to your estate they may have a fighting chance of doing that. And, you're going to take an asset normally that doesn't go through probate. Life insurance goes directly to your beneficiary, the probate judge does not fool with it, but if you name your estate as the beneficiary, the probate judge will certainly fool with it. It will become part of your probate estate. So, good news about naming your estate is the money will go according to your will, bad news is you may see some other complexities. Go see a qualified lawyer that can help you work through these issues."
eHow Article: Does the Will Say How Life Insurance is Paid?
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