[WSBAPT] Minor LI Policy Parent Dies

[Paul Grant]

I have a client whose husband passed away and he was the named adult on a
life insurance policy that his minor children have.  Wife is attempting to
now get her name as the parent over the policies but the LI company is
insisting on a letter testamentary.  All bills paid and assets are
successfully transferred by joint or beneficiary so no need for a probate
except this remaining item.

Does anyone have any creative ideas or have they faced this issue before
where the company refuses to simply switch the surviving parent as the new
guardian/trustee/custodian of the account?

Estate of decedent was well over the $100k when we started so I do not
believe that a small estate affidavit will work when the estate in totality
is over $100k,

Any thoughts are greatly appreciated.

Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
Lynnwood, WA 98036
425-939-9948
www.planningwithpurposeinc.com

Estate Planning. Business Planning. Wealth Succession.
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